[Feature Request] - Paid Client-Side Transcoder for ATV (MPEG2 to H.264)

[bstreit]

And it looks like it happened:

Early access for Plex Pass users to new Apple TV & iOS Video Player

We’re introducing a great upgrade in terms of video playback experience to our iOS and Apple TV apps! Up until now, we relied on Apple’s AVPlayer for video playback. That was a simple solution, but very limited in many aspects. However, now we’ve added support for mpv: the same higher-quality video player we have in Plex Media Player, that will result in sharper video output and improved subtitle support. The new player is still experimental, and we do plan to make it available to everyone, but…

I haven’t tried it out yet, but based on everything I’ve read this should handle the US broadcast formats just fine and allow native playback on the ATV without transcoding (as well as native streaming of live broadcast via the Live TV).