ph00lt0 I tried VLC also but it had very bad buffering and would start and stop all the time
Well VLC will be moving a lot more data on your network, since your phone has to transmit the data to your wifi AP, and then your wifi AP has to transmit the same data to the CC. This could be even worse if you are restreaming data as it is being received from a network source, which means the data passes through the air THREE TIMES.
My suggestion is to WIRE the CC to your network, rather than having it on wifi. This should free up the bandwidth and improve things drastically. As far as I can tell, every version of CC will work with USB ethernet adapters. G* sells ones that also have power adapter integrates, or you can cobble something up from amazon, for example with a USB hub that can supply power, or finally, you can cut and splice USB wires to connect power between the CC and network adapter.
One other potential issue for your CC... if you have a really old CC that just can't handle the data that VLC is sending to it. If that's the case, it might be time to look at upgrading it.