There is a growing demand for the transport of video over IP today, i.e., for content distribution over the Internet, IPTV services in Standard and High Definition, or even inside traditional broadcasters networks, transporting broadcast quality contributions to the main program. In such applications, the source encoded MPEG-2 or -4 content is transported in the form of MPEG-2 Transport Streams, encapsulated over network protocols. However, IP networks, which can be modeled as Packet Erasure Networks (PEC), were not originally designed for the transport of real time media. There are problems, such as packet drops and jitter, which generate severe impairments in the content that is decoded at the reception. Traditional methods for overcoming these problems, as for example retransmissions performed by Automatic Repeat Request (ARQ) protocols, are not suitable for real-time multimedia protection. Channel coding is the solution of choice for protecting real-time multimedia over IP. There are channel coding schemes specified in open recommendations and Standards, widely adopted by equipment vendors today. Fountain Codes present very attractive characteristics for the transport of real-time multimedia. In the present work, simulations with a Fountain code, protecting Transport Stream contents prior to network encapsulation, are presented. The experiment if repeated with other channel coding techniques commonly employed today. In order to analyze the decoded contents and obtain comparative results, standardized Transport Stream measurements, objective Blocking Artifacts measurements and subjective analysis of the decoded samples are employed. This work is concluded with the proposal of a Transport Stream Adaptive channel encoder, that is explained in Appendix-B.