This is not a component in the actual sense. It’s a set of technologies offered by Microsoft under the Windows Media product line. There are two main types of technologies that we’re familiar with:
Broadband - stream high quality MPEG1, MPEG2 & MPEG4 video/audio over a private WAN/LAN. Suitable for inhouse intranets.
Narrowband - unicast/multicast video/audio streaming over the Internet.
There’s also a component for webcasting live events.
Windows Media v7 has new features which we’ve not played with: