Disney (NYSE:DIS) stock is on fire these days, and things may get even better after a bold push into live streaming.

Between now and June 30, television fans in New York City and Philadelphia will be able to stream ABC content live through their PCs and Apple gadgets.

Disney's ABC Player app for iPhone, iPad, and iPod touch users is being rebranded as Watch ABC, with access to the content that the network is airing live. This could be a game changer for Disney. It could also be bad news for TiVo (NASDAQ:TIVO), because the Watch ABC app allows viewers to pause live TV to resume watching later as well as check out any of the earlier shows on demand.

Disney has always been at the forefront of streaming. It was the first major studio to sell video downloads through Apple's iTunes. It also turned heads recently when it broke from its digital distributor to cut a lucrative deal directly with Netflix (NASDAQ:NFLX). Clearly Disney isn't afraid to stream, and in this video, longtime Fool contributor Rick Munarriz explains why this is a big gamble for the media giant -- but why it's ultimately a gamble worth making. Disney stock is trading at all-time highs, but staying ahead of the pack will keep moving it higher.