VLC media player version 1.1.4 has been ported to OS/2. This is a highly portable multimedia player and multimedia framework capable of reading most audio and video formats (MPEG-2, MPEG-4, H.264, DivX, MPEG-1, MP3, OGG, AAC) as well as DVDs, Audio CDs, VCDs, and various streaming protocols.
 
Source: http://www.os2world.com/content/view/20350/2/