From MEPIS Documentation Wiki
Multimedia player for all audio and video formats
VLC is the VideoLAN project's media player. It plays MPEG, MPEG2, MPEG4,DivX, MOV, WMV, QuickTime, mp3, Ogg/Vorbis files, DVDs, VCDs, and multimedia streams from various network sources.
VLC can also be used as a streaming server that duplicates the stream it reads and multicasts them through the network to other clients, or serves them through HTTP.
VLC has support for on-the-fly transcoding of audio and video formats, either for broadcasting purposes or for movie format transformations.