It seems that you can now watch a video with your friends on Google Plus’ Hangout. It works very similar to Xbox Live’s Movie Party. I was able to get 3 people to Hangout and watch a short clip. It worked very well without any issues.

Once Google + adds business to the to the mix. I see this feature becoming very useful for marking. You could debut a trailer to only very loyal fans or contest winners. Think how this might work for Superbowl ads. You could all do Hangout instead of flooding my inbox with links.  I mean other people’s inboxes with links.
So far I have not been able to find a video that Hangout does not work on. From Tech New Today with Tom to even the very limited movie selection that YouTube has. This is a feature I would love to see come to Netflix. Unlike the Facebook  Like button. The Google + Hangout only goes to who you invite to participate. Thus circumventing the whole its illegal to share the entertainment you rent law that is stopping Netflix from using Facebook.