SurfTheChannel (STC) has links to some Bollywood movies as well. STC
They have a huge collection of TV Series, Anime and hollywood movies. Most of the video is streamed from Chinese websites (tudou.com). I found that videos streamed from veoh aer much better than tudou.
STC uses Agriya FLV player to stream and play movies. One of the things that sucks about this player is, it doesn’t let you seek the video forward, which is very annoying if I want to watch the movie in multiple sessions. Another much needed addition would be ability to automatically play all the parts of the video (typically a movie spans multiple parts, possibly from different sources).
Be warned that all the videos/movies listed on STC are most likely violating copyrights.
If they can come up legitimitate way of online streaming infrastructure to deliver iTunes style low cost/high quality movies (PPV), there may be a decent market. Netflix is already delivering movie titles online for a small fee.
European players are toying with the idea of using P2P technologies (“p2pnext”) for streaming videos. This would enable delivering high quality videos with optimal bandwidth usage.