Yes is possible, you need to install a UPnP/DLNA media server, you can do manually (I don't recommend it, and I don't think there is any selfinstall App on the jail broken side) or you can install an Offical AppStore call MediaServer, they do the same thing, they install a UPnP/DLNA server running so you can use any client to read your media, (VLC on the mac, or the PS3, Xbox will pick it up). Now with the official app you are of curse limited to the user land of the File system so just Videos and Photos and music on your library will be available.