During San Francisco keynote Google presented very small device named Chromecast, which it’s size points to USB Flash drive. If you connect Chromecast over HDMI to you TV, you can started playing content from Youtube, Netflix, Google Play Music/Movies, or other services.
Operating system is Chrome OS (what a surprise – haha) and your smartphone/tablet/pc are used as a remote controll. In practice, if user runs on his/her smartphone one of the apps listed above, then click on the button and if are both (Chromecast and smartphone) connected on same Wi-Fi network, the film or music will immediately start playing on your TV.
But it’s not streaming in right meaning. Chromecast only receives informations about content – for example Youtube video. Then Chromecast download the video (itself) and will start playing.
More informations: http://www.google.com/intl/en/chrome/devices/chromecast/#netflix