IPTV is the delivery of media content, videos or live television over an IP network. IPTV (Internet Protocol Television) can either use the public internet, a private local area network (LA) or wide area network (WAN). An IPTV service can be delivered to an IP enabled TV, mobile phone, tablet, laptop or PC and can be easily incorporated into a video on demand solution.
IPTV services are commonly used by businesses and organisations to deliver TV to waiting areas, reception and common rooms and often integrated with digital signage capabilities. IPTV is also a popular solution for the provision of tv services within a hotel, hospital or residential property. 

IPTV (INTERNET PROTOCOL TELEVISION) EXPLAINED

Here are some other helpful descriptions to explain the meaning of IPTV.
Internet Protocol television (IPTV) is a system through which tv services are delivered using the internet protocol suite over a packet-switched network such as a LAN or the internet, instead of being delivered through traditional terrestrial, satellite signal, and cable television formats.

Live television or stream, with or without interactivity, from either broadcast source, encoder or IP camera;

Time-shifted television: catch-up TV and ‘near’ video on demand;

Video on Demand (VOD): stored and recorded video assets, be that movies, TV shows, training materials or recorded meetings.

IPTV is defined as the secure and reliable delivery of entertainment video, live streams and related services across an IP data network. IPTV services may include, for example, encoded streams, broadcast TV, Video On Demand (VOD) and interactive TV. These services are delivered across a network using the IP protocol to transport the audio, video and control signals, securely delivering them to smart TVs, media players, set top boxes, mobile devices, laptops, macs and thin clients. In contrast to video over the public Internet, with IPTV deployments, network security and performance are tightly managed to ensure a professional experience, resulting in a compelling business environment for content providers, advertisers and customers alike

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