VLCMedia Player is a portable multimedia player that supports a variety of audio and video formats, including MPEG-1, MPEG-2 and MPEG-4. It also supports DivX, OGG, ...) and DVDs, VCDs and other streaming protocols. It can also serve as a server to stream unicast or multicast over IPv4 and IPv6 over a high-bandwidth connection.
The software is free but it is donationware. To support development, please consider donating.