The key term in live TV streaming is 'live'—this refers to material currently being aired on TV networks. Similar to satellite or cable TV service, only it is streamed online. With 'on-demand' streaming, you may access episodes and movies anytime you want to view them, like with Netflix or YouTube, the most popular 'on-demand' service. Technically, 'on-demand' might also refer to shows recorded using a physical or cloud-based DVR.