In this paper, we analyze a delay-sensitive underwater wireless optical network used for live-video applications. The video streams are generated at the sender and are transmitted through underwater multi-channel paths that span over several meters of length, where the receiver is subject to a maximum end-To-end delay constraint. We model this network with M/G/1 Markovian models to quantify the system's performance. Also, we obtain an approximate expression for the probability of blocking at the receiver considering an acceptable QoS. We provide an approximate expression for the minimum number of channels required to satisfy the preset QoS metric. Our model is validated using actual parameters from an existing setup and by comparing the analytical expressions for the end-To-end delay and probability of blocking for different scenarios with the simulation results.