iCalendar (*.ics extension) is a popular file format used to distribute calendar information between different applications over the internet.

Once you click the iCal feed link with the right button, copy the link URL and paste it into any calendar app that takes iCal feeds (Google Calendar, Outlook, etc).

Left click on a single event downloads the *.ics file with selected event, but it will not allow calendar apps to update automatically their calendar with other or upcoming events.