Kodi (formerly XBMC) is a home theater and media player software application developed by the XBMC Foundation, a non-profit technology consortium. It is available for multiple operating-systems and hardware platforms, with a 10-foot user interface for use with televisions and remote controls. It allows users to play and view most streaming media, such as videos, music, podcasts, and videos from the Internet, as well as all common digital media files from local and network storage media.
MediaMonkey is a media player and media library application for organizing and playing audio. It uses SQLite to manage its database. It can be extended to handle video and other media formats, with the help of plugins. Freemium version has features like media management, record & convert, burn, and more of them can be seen here. Premium gold license unlocks additional features such as the ability to have multiple media collections, the ability to organize files automatically, and more can be seen here.
VLC is a free and open source cross-platform multimedia player and framework, developed by the VideoLAN project, that plays most multimedia files as well as DVDs, Audio CDs, VCDs, and various streaming protocols. It can read a large number of popular video and audio formats, such as MPEG, MKV, MP4, MOV, WMV, H.264, WAV, FLV, AVI, etc. It can also convert media into many of the same formats that it is able to read, including the MPEG, ASF, AAC, and MP3 formats.