VLC can play almost all video and audio files, even uncompleted multimedia files that you don't download totally, and can stream audio and video over networks to another computer using a large number of different protocols, can be controlled remotely through a web browser and more!
The following part we will show you steps and notes on how to use your VLC to stream a multimedia file to another computer on your network.
Steps for Streaming multimedia to another computer with VLC

Firstly you must download VLC media Player and install it correctly.
1. Run VLC Media Player program

2. Choose the file you want to stream
Click File, then choose Open File or Disc. The Open dialog box opens and click the Browse button at the top right of the Open dialog box. Choose the file you want to stream and either double click it or click Open.
3.Setting Stream Output dialog box to begin the streaming
a. Click Stream/ Save in the bottom left corner, the Stream Output dialog box will be opened.
b. Check the Play Locally box if you want the file to play on the computer you're setting up.
c. Click the UDP box, fill in the IP of the computer you will stream to, leave the Port as 1234.
d. Click OK to go back to the file open dialog. Then click OK again to begin the streaming.
4. Run VLC on the computer you want to stream to
Go to the computer you are streaming to, and run VLC program.
5. Choose Open Network Stream and click OK
Click File, then choose Open Network Stream on anpther computer. Don't change any settings and click OK. If everything has gone right, the file can play on the remote computer very soon.
If you want to stream more than one multimedia files, get the first one streaming and then open VLC's playlist editor on the streaming computer. You can easily add files to the list from there, or you can choose more than one file at the beginning of opening one to stream.