Most IPTV services give you a catch-up service but are flaky at best, why would you want to use that, when you can record what you want and when you want with PVR Live
Once you've recorded all the content that you could possibly want to watch, PVR Live
lets you use Google's interface that helps you navigate your recordings. It will tell you the full schedule of what's about to record and what you've already recorded.
Once you choose a recording that you want to watch, you'll be greeted with the recording player made by Google. You can fast forward, rewind and pause, so you can skip those adverts if you don't want to watch them.
There are some features lacking here, but it may get updated in the next version of Android TV. Who knows when but, Google will update it when they see fit.