I can't believe I didn't have this posted a long time ago....
VLC - the cross-platform media player and streaming server
VLC media player is a highly portable multimedia player for various audio and video formats as well as DVDs, VCDs, and various streaming protocols. It can also be used as a server to stream in unicast or multicast in IPv4 or IPv6 on a high-bandwidth network.
More information, on this great little media player, is available here.
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