Teams Townhall (Formerly Live Events) is for streaming events to a large audience.
To create a townhall click the downward pointing arrow to the left of New Event on your Microsoft Teams Calendar
Select Town hall
Enter the name of the event. Make sure you include a description of what will be presented. Include names of Co-organizers and all presenters. These are the only people that will have access to being viewed and heard on the event.
Scroll down to customize event access
Select the level of access required for this event. Default access is Your Organization. Make sure the access matches your audience.
You can choose to use the email invitation system included in the scheduling. If you are using the included invitation system make sure you check that you confirm the theme and email sections before publishing the event. However after you publish the event you will be provided a link you could share your own custom invitation.
Select if you want to have a Q&A for people to engage with. Many townhall events either use a third party Q&A like Slido or turn off the Q&A entirely for events that are purely getting a message out to a large audience.
Click Meeting Options to confirm this settings
Often these settings can remain unchanged unless you want specific changes to who can manage Q&A. If you make changes hit the Apply button to save these changes.
Press the 'X' in the upper left to close this window, when you are done checking these settings.
Save your event.
Click the publish in the upper left hand corner to complete the event creation.
You can update the meeting options, presenters and co-organizers after publishing. You are free to make changes all the way up to the event.