We have seen videos running on Android wear in the past and now there is a dedicated app on Google Play for playing videos on your device, the app is called Video for Android Wear & Youtube that will let you watch videos on your smartwatch.
The video below shows the Video for Android Wear & Youtube app in action on an Android Wear smartwatch.
Watch this video on YouTube.
You can find out more details about the new Video for Android Wear & YouTube app over at Google Play at the link below.
Source Google Play, Phone Arena