System and method for smoothly playing film and television stream

The invention relates to a system and method for smoothly playing a film and television stream. A terminal data acquisition module acquires parameters of terminal equipment, performance data of a network, where the terminal equipment is, and the usage rate of a buffer area of a play module in real time and uploads to a policy engine module; the policy engine module calculates corresponding template parameters according to the received data and a pre-stored templated parameter model and sends the template parameters to a transcoding engine module; the transcoding engine module transcodes and codes a media stream according to the template parameters so as to obtain media stream data; the media stream data is sent to the play module; and the play module decodes and plays the media stream data. In combination with the parameters of the terminal equipment of a user, a network environment, where the terminal equipment is, and the usage rate of the buffer area of the play module, the media stream is transcoded and adjusted dynamically in real time; the transcoded media stream is sent to the corresponding terminal equipment; therefore, a video and the terminal equipment are matched better; the play effect of users is optimized; and the play stability is high.