Netfilix have a feature which allows you to watch films with friends and family no matter how far away they are.
What if you want to watch or listen to media from other sites, including your own ?
This is where the open source project sync/cytube comes to the rescue.
You can self host and modify to your hearts content, or use the public version.
The public version lets you create 5 rooms, so 5 playlists.
They can be passworded and have multiple admin assigned.
The integrated chat is our favourite, good old IRC.