Capturing a network stream with VLC

This post describes how I use VLC to record a network stream. I had so much trouble finding an answer to this problem I thought it was worth posting something about it.

Note: These instructions are based on VLC for Linux and focus on the GUI, not command line. The specific distro I'm using is Kororaa.

1. First, you need the get the details of the network stream you want to capture (for example, http://example.com/stream.avi). If you have an m3u playlist file, the file properties will give you this information. 
2. Open VLC. 
3. Select Media - Open Network Stream. 
4. In the Please enter a network URL field, enter the stream location from Step 1. 
5. From the Play options drop-down list, select Convert. 

Result: The Convert window is displayed.

6. In the Destination field, name the output file and select where you want it saved:
• Navigate to the save location.
• In the Name field, type the filename (for example, funk.mp3).
• Deselect the Automatically select filename extension checkbox.
• Click Save
7. In the Settings section, you can either select the output file type you want, or check the Dump raw input checkbox.
8. Click Start. 
Result: Happy days! VLC starts streaming and the output is saved in the location you selected in Step 6.