No. You can transcode using AME, but you must "author" the files into a DVD disk form.
Adobe's authoring software - Encore - is EOL (end of life - we think they lost the license), but you can still use it by downloading Premiere Pro CS6.
This is the link for info re using Encore CS6 with CC:
http://helpx.adobe.com/encore/kb/encore-cs6-installed-cc.html
The screenshot of the cloud desktop is a bit misleading. Just click the arrow by Premiere Pro (not "install"), click manage, and then pick previous versions.
You must install the library separately. See the link on that page for instructions.
See the link on that page to the "using" Encore with CC tutorial (Using Encore CS6 with PremierePro CC « DAV's TechTable).