VLC is probably the most popular media player on the market, and for good reason. It is free, open source and plays pretty much every single media format.
Ranked in these QuestionsQuestion Ranking
Pro Needs no additional codecs
Everything VLC needs to play media files is contained within which means no outside codecs are needed.
Pro Free, open source and cross-platform
Pro Intuitive UI
An incredibly robust application but very simple on the surface. It makes playing music simple and puts the user in control.
Pro Streaming support
Pro Can convert media
You'll never be bugged to register or pay, as is the case with many other software movie and DVD players.
Pro Functionality can be extended with addons
Pro Active development
In addition to VLC being actively developed by the core developers, due to its popularity, VLC also receives regular update from the community.
Pro Plays anything: discs, streams, files
Con Lacks libraries and advanced music player features
VLC is a media player first and foremost. There is no library management, aside from playlists, usage of tags is very limited, no rating system and VLC is best at playing a file directly from a folder as opposed to helping you manage or find good songs in your music library.