View source for VLC stream a mp4 over http
How to transcode & stream a mpg4 video file with vlc from command line
%%
input_stream="file.mp4"
[~]> vlc -vvv $input_stream \
--sout '#transcode{vcodec=mp4v,acodec=mpga,vb=800,ab=128}:standard{access=http,mux=ogg,dst=192.168.1.103:8888}'
%%
On another PC
%%
[~]> vlc http://192.168.1.103:8888
%%
PS: be aware not to cross the streams