Out of the box, the R-7 platform native Android video player supports standard 2D & S3D video playing. This includes playing mp4 files stored locally, which can be 2D or stereoscopic 3D content.
Applications like VLC can play 2D video streams from network video sources, as long as they are compatible with VLC, which uses standard RTSP formats among others. Also, if you navigate to YouTube's web site via the Web Browser, you can play videos over the internet. The browser supports multiple video streaming formats, like WebRTC, Web Sockets, etc..
There are multiple 360 degree players that work on Android; we supply im360, which uses it's own file or stream format to play content ImmersiveMedia provides via their web site (http://immersivemedia.com/). Another one that works well is Makingview (http://www.makingview.com/). Using these players, you can stream content from their respective sites, or download and store for later offline playing.
There are a number of different HTML5 based 360 players used by many web sites. Depending on which player is used, some work as expected, others have some issues. An example of one that works is:
Live streaming from various 360 cameras using players from the camera vendor also works well. One we've used and like is : https://www.360fly.com/ We have found a Unity plug-in that allows live video to be rendered on a texture. Ask us about this if you are interested.
Other examples of Android player Apps that support 360 degree video - YouTube, Facebook - appear to use their own format. (Note that both of these Apps require google components which we do not provide currently).