Hmm didn't consider that the end user will miss 30 seconds of the show during the ad playback, oh well it's free for them to watch, lol, maybe Roku can make a way to buffer, google video will make the player buffer the content during the ad breaks they deliver, BUT google then doesn't pay it broadcasters so I pulled my channels from them..
No, I handle all video streaming on my servers. I use Unreal media server to accept a rtmp stream from a computer in my home using VMIX which allows me to setup playlist inputs from a powershell script I wrote/am writting still (the friggin thing is like a classic car rebuild, 20 years later still rebuilding it, lol..) that enables me to change to a feed from a live event at anytime without disconnecting the players or stooping the http hls feed to the end user.
It's a neat setup unreal media server gives you, ingests rmtp, can send out through HLS, IIS Smooth streaming, it's own proprietary format/player, mpeg2-ts and other formats from one feed.. BUT if you are going to play with live feeds create a ram drive and add it to your HTML server as a virtual directory, it will kill a HD in a matter of weeks especially if you run multiple live channels on one server..
http://www.TVByDemand.com