Apple's video player and streamer solutions are very limited, supporting only specific video file formats, HTTP streaming and the h264 video codec. The source code powering the player and streamer is proprietary and it renders the task of streaming a very difficult one.
iOS VideoKit is a custom video player that plays divx, mkv, flv, (and many more formats) and uses other popular streaming protocols such as MMS, RTSP, RTMP. This SDK is capable of playing video files and streams from an HTTP server while using different audio/video codecs or playing video files and streams from a server which utilize the apple API (MPMoviePlayerController or AVPlayerItem).
If you ever find yourself in need to modify the video player, the buffering duration, audio or video raw data or many other aspects then iOS VideoKit is for you.
This SDK was built using FFmpeg, OpenGL ES 2.0 & Apple's AudioUnit.