rtsp = real time streaming protocol. It is the standard streaming protocol used in all media formats I know of - QT, RealPlayer, etc. It works over port 554.
Because some firewalls are restrictive and prevent streams from playing properly, you can also stream over port 80 (the port used by http/your web server).
UDP is the transport protocol used by the streaming software. Many other network programs use UDP, possibly instant messaging programs for instance. The other transport protocol is TCP/IP.
I think I have this straight. If so, hope this helps!