Sometimes they stream live nba, soccer, nhl, tennis games, but thats against the rules so they usually post links in the chatroom that directs you to other websites where you can watch the game.
I personally like justin.tv because they stream old and new shows i like. It's a fun website because you can watch and chat at the same time.
So if you are not really a tv person but you still want to watch a show or a movie, then check out justin.tv
So go visit the website (link is @ the end of the post) and sign up if you want. You can only talk to other people in the chatrooms if you have an account there.