It takes the TV or other video source content within your home and streams it out to other destination either within the home or away from the home.
Conan mentions it is not for him (or her) because they can access HBO, Netflix and Hulu, now when they are out of the US they can use a VPN to get a US IP address and continue that service but usually Video distribution (and the three above are) is restricted by country and that is done by IP address. While Conan may be able to get these services on their iPhone or Android, Mac or PC, sling will also distribute out to BlackBerry, Windows Phone, Palm OS, and Symbian mobile devices.
With Sling, as the content provider is streaming to your US address and you are redistributing this is not as big a problem.
It is also a big sell for sports fans. Much sports content is regional. If you want to watch the LA Dodgers but work has taken you to NY then you will find the Yankees on broadcast TV. Your slingbox at home can redistribute the Dodgers game over to your PC or whatever in NY so you can still watch the game live. I know sport mad expats who have friends or family install this in their house so they can watch games live around the world.
Their marketing blurb is below...
Why would I want a Slingbox?
Watch your TV anywhere.
At home, around town, around the world. With a Slingbox, you can watch and control your TV and all of its programming, live, over the Internet on your PC, Mac®, tablet, smartphone or connected TV. These days there are a lot of confusing ways to watch TV. Only Slingbox gives you full access and control of your living room TV experience in sparkling 1080p Full HD. Why pay twice for your favorite programming? Get more out of your TV with Slingbox.
It's easy to connect.
We make it a snap to connect to practically any audio-video (AV) source. You can hook up your Slingbox to thousands of compatible standard-definition (SD) or high-definition (HD) sources, including digital video recorders (DVRs), digital cable set-top boxes and satellite receivers.
You're in control.
Watch television exactly as you would at home. With the on-screen remote control and program guide, you can change channels, schedule recordings on your DVR, fast-forward, rewind, pause and play. You'll never be separated from your favorite TV shows, sports broadcasts, breaking news stories, digital video recordings or video on demand — wherever you are.
Who needs a Slingbox?
We'd like to think anyone in the world needs a Slingbox, but here are some examples of who our customers are and what they're doing with their lives.
Sports fans and information junkies. Slingbox grants instant access to live sporting events without blackouts, and time-sensitive breaking national or local news.
Frequent travelers or expats. Take your home TV with you anywhere with an Internet connection. No streaming service or app can do that.
College students or snowbirds. No need to pay for another cable or satellite subscription where you are. Simply connect to your Slingbox at home from your laptop or mobile device, or use a Roku streamer connected to a TV.
Military personnel. Wherever they are deployed, they can stay connected to what's going on at home.
Moms and Dads on the go. Wouldn't you rather be watching the game while waiting for piano lessons to be done?
Anyone who wants to save a buck. No need for additional set-top boxes. Get TV in more places in and around the home, using gadgets you already own.
http://www.slingbox.com/go/slingbox