One of the best media players, Video Lan’s VLC, is back for iOS with version 2.0.
You can use VLC to play all media files and formats, including MKV and subtitles. In addition to that it supports network streams, like HLS, MMS or RTSP. It also has support for bluetooth headsets and support for AirPlay.
It now features integration with Dropbox and WiFi upload. WiFi upload is especially handy – VLC for iOS essentially features a web server, which allows you to upload media files to it from any computer on your network.
You can use VLC for iOS on iPhone, iPod and iPad (including first generation) that are running iOS 5.1 or newer.
Get VLC for iOS from App Store.