I use this in combination with a digital mixer, a Hosa AES to S/PDIF converter and an ATEM Mini Pro to balance audio with video for live broadcasts. We routed the audio coming out of the Soundcraft to a HOSA AES to S/PDIF optical converter via AES/EBU XLR cables. It then outputs to this unit via the optical input and I also output the video from the camera to the HDMI input. The HDMI output then connects to my ATEM and I enable audio on that channel/input. ATEM can't handle the black signal (it won't record audio if there's no video - BlackMagic said I can get a signal generator, but it's surprisingly expensive), so I need to hook up a camera. Since I'm not using audio straight from a camera for our multi-camera live stream, there's no loss.
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