Plex Account Setup
Plex is an online media streaming service that lets users set up a server to host their own media. This means that you can rip your CD's, DVD's, Blu-Rays, etc. and stream them at home or really wherever you have an internet connection. Even if you don't personally want to host a Plex server, though, one of your friends might, and there's also often things to stream and rent available.
Setting up an account on Plex is free and pretty easy. Go to the Plex website, and click on the "Sign Up Free" button. The registration form should look something like this:

Once you have created an account, you can browse the various things that are available for free in your browser or on the Plex app that is available on most smart TVs and phones.
The browser version of Plex looks like this:

Friends
If you have a friend who hosts a Plex server, they can send you an invitation to watch what they have available. Generally, they will need the email address you used to register your Plex account or the username you chose.
Once you have accepted an invitation, you will have access to their library.