I use VLC to play live video/audio streams from RTSP/RTMP/HLS servers. But my TV does not have a media player like VLC. I need the Plex server to store a custom list of RTSP URLs (and m3u playlists) so the server can proxy those streams from the internet for DLNA clients on my home network. (In other words, I need the ability to watch any live internet video channel on my DLNA TV without waiting for someone to create a Plex plug-in for that specific channel.)
This could be a very popular feature (especially if you create an online database of channel names and the corresponding RTSP or m3u playlist URL). Then we could submit live stream URL's to the database, and the Plex audience could acquire live streams simply by searching for the channel name in Plex. The advantage of this method is that you can use the TV remote to view live streams through DLNA instead of purchasing another device to display the Plex web interface on the TV.
Example of how internet TV providers offer high & low bandwidth streams of the same content without requiring a web browser:
rtsp://str81.creacast.com/grandlilletv/high
rtsp://str81.creacast.com/grandlilletv/low
http://public.infozen.cshls.lldns.net/infozen/public/public/public_1000.m3u8
http://public.infozen.cshls.lldns.net/infozen/public/public/public_200.m3u8
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List of internet TV providers
https://en.wikipedia.org/wiki/List_of_Internet_television_providers