Today, Adobe launched their media player simply called Adobe Media Player 1.0. It's a video jukebox app running under their AIR platform and is compatible with both Macs and PCs. And guess what? No DRM!
Although it's very much alike to iTunes Video and Podcast, the good thing about it is that it's not yet a store, and you'll be able to view free content that's mostly supported by ads.
The player supports FLV playback as well as h.264 content up to (1080p, 720p) and there’ll be no DRM (Digital Rights Management). That, coupled with content providers such as CBS, PBP, MTV and others, will probably make this app a nice contender.
You can read more here.