Can you really 'watch TV' on the Internet. Simply put, no. This data rate will increase when High Definition TVs become reality. It's not possible to have a broadcast quality television picture on today's Internet. However, there are several interesting media which can carry small, jittery pictures with sound to your computer over the Internet.
Web pages can host a moving picture with sound using one of several technologies.
In the earlier technologies, the movie is downloaded in .avi or .mpeg format and then played. However, it often takes as long to download the movie as it takes to watch it. Furthermore, after you have seen it, who wants to necessarely keep it on your hard disk. As far as programming, it's all over the place. You can find what you like in videos by adding 'streaming video' to your query to your favorite search engine.