% vlc -vvv dvdold:/dev/dvd --sout udp:client.example.org
where /dev/dvd is the name of your DVD drive (put D: under Windows if D is the letter of your DVD drive) or the directory where you copied your DVD, and client.example.org is the DNS name of the client you want to stream to (you can put an IP address instead).
Under Unix/Linux, you must have write access to the device corresponding to your DVD drive. For that, you should be in the disk or cdrom group (look at the permissions in /dev). If you're not, add yourself to the group :
and then restart your session.