Below is a brief description of a home theater set up for the do it yourselfer. The details can be found on the web on the Kodi Wiki, PlayOn guides, Raspberry PI guides, and OpenVPN guides.
If you are a computer/network do it yourselfer, and comfortable working with Linux and Windows, you can set up a home theater that can stream videos from the web or from devices on your local network. You will need an HDMI-capable TV, a BLU-RAY player, streaming media software like PlayOn, media player software like Kodi in my case running on a Raspberry PI 4, a stable network connection, a Windows server PC on the local network (for the PlayOn server software and a VPN.
First, I set up my TV and DVD player, connected using the HDMI cable. Then configure the Raspberry Pi with the operating system that Kodi will run on. I use LibreElec. Once Kodi is installed and configured to your liking, install the Kodi add-on PlayOn Browser. The browser connects to the PlayOn server to be installed on the network server. Install and configure your IPTV add-on. I use Eternal Hosting for $3.00/month. In Kodi, Install the PlayOn application which contained the PlayOn server service on the network PC. You will have to configure the application with all of the online streaming services to which you subscribe, such as Amazon Prime, Hulu, Netflix, and so on. On Kodi, the PlayOn browser will point to the PlayOn server, and through it, you can surf and play all of your content to which you have subscribed. If you have a library of DVDs, you can record them to a local storage device, point PlayOn on the PC to the storage location, and have access to your library. PlayOn also can also record the streaming media. For the raspberry pi, a Bluetooth keyboard makes it easier to navigate than using the tv remote. I use a second Raspberry PI as my VPN server and it seems to work for geographically restricted content because through Eternal Hosting I can view content worldwide. Of course, you have to install and configure the VPN manager for Kodi. I have a lifetime license for PlayOn, which includes AdSkip, which for me only works when I cast from the PC to Kodi(TV).
So, all I need from my Internet Service Provider (ISP) is s stable and fast internet connection. Eternal Hosting provides content like sports and local TV. With the Raspberry Pi stand alone, I can take my content on the road and still use my VPN. Also, I recommend powering the raspberry pi with a 2A power supply which is more power than provided by most USB ports on devices like TVs, and PCs, which are 100mA (0.1A) to 500mA (0.5A).
For a techno-geek, this was fun to set up. I have access to my online content and can play a DVD if needed. Through Eternal Hosting I can also access local news without having to install an antenna. And with Kodi, I can configure the look of my TV. If Kodi or the PlayOn Browser misbehaves, I can cast whatever I want to watch from the PC. http://computerthang.com