The name EMIPLIB stands for 'EDM Media over IP library'. This library was developed at the Expertise Centre for Digital Media (EDM), a research institute of the Hasselt University. As the name suggests, the goal of the library is to make it easier to stream several kinds of media, including (but not limited to) audio and video.
The EMIPLIB page can be found here: EMIPLIB home page
There's also a GitHub repository where you can find previous releases as well as the development version.