Module : OpenPackage Video Suite for Drupal (Contributed Module)

OpenPackage Video is the premier video suite for Drupal. Submitted videos are transcoded to FLV format so they can be viewed directly in the web browser. Transcoding either occurs locally using FFmpeg, or videos are transferred to OpenPackage Media, transcoded and then returned to your site. 

For OpenPackage Media to transcode your videos, transcoding credit must be purchased. Transcoding locally with FFmpeg is, obviously, free of charge. This project currently uses Jeroen Wijering's FLV Media Player. Irritatingly, this player is not free software. If you use it for commercial use, you must purchase a license from his website (it's very low cost). 

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Downloads:

Version	Date	Files	Release notes
5.x-2.6	2008-Mar-17	Download	Supported for 5.x
5.x-3.11	2008-Jul-14	Download	Recommended for 5.x
5.x-3.x-dev	2008-Jul-30	Download	Development snapshot

Courtesy : http://Drupal.org & http://Drupalmodules.com