Definitely Yes! You can easily purchase videos and watch it directly on your iPhone and iPad as it works no matter where you are as long as you have internet connection.
If you prefer to stream a video on your Apple TV, you can use AirPlay directly from your iOS devices.
What you need:
• iPhone, iPad, iPad mini or iPod touch
• Apple TV
Note: Your iOS device and Apple TV needs to be connected on the same Wi-Fi network.