The content for the Mormon Channel comes many different sources. First, many of the programs come from the vast archives of the Church. Second, working with the various departments of the Church, a large number of new programs and series have been developed for the Mormon Channel. Finally, some great partners- such as Bonneville, Deseret Book, and the campuses of Brigham Young University, have also provided content for the service. Frequently Asked Questions.
The site explains that the content will include live programming. To quote:
Yes. General Conference, CES firesides, devotionals, Christmas firesides, and other special broadcasts will be carried live on the Mormon Channel, and repeated across multiple time zones. It should be noted, however, that certain Church events, such as temple dedications, are intended to be viewed only in select locations because of the sacred nature of the event. Broadcasts not intended for a general audience will typically not air on the Mormon Channel.