VLC Media Player

VLC is a free and open source cross-platform multimedia player and framework that plays most multimedia files as well as DVD, Audio CD, VCD, and various streaming protocols.

VLC Media player is a highly portable multimedia player supporting most audio and video formats (H.264, Ogg, DivX, MKV, TS, MPEG-2, mp3, MPEG-4, aac, ...) from files, physical media (DVDs, VCD, Audio-CD), TV Capture cards and many network streaming protocols.

VLC Media Player can also convert media files, transcode and act as a streaming server over unicast or multicast and IPv4 or IPv6. It doesn't need any external codec, program or codec pack to work.

Source: videolan