With more and more multimedia applications on the Internet, such as IPTV, bandwidth becomes a vital bottleneck for the booming of large scale Internet based multimedia applications. Network coding is recently proposed to take advantage to use network bandwidth efficiently. In this paper, we focus on massive multimedia data, e.g. IPTV programs, transportation in peer-to-peer networks with network coding. By through study of networking coding, we pointed out that the prerequisites of bandwidth saving of network coding are: 1) one information source with a number of concurrent receivers, or 2) information pieces cached at intermediate nodes. We further proof that network coding can not gain bandwidth saving at immediate connections to a receiver end; As a result, we propose a novel model for IPTV data transportation in unstructured peer-to-peer networks with network coding. Our preliminary simulations show that the proposed architecture works very well.