VLC Media Player (64-bit) lets you add audio and video effects as you're watching a video for extra fun - and supports more playlist formats for easy, hands-free viewing.
It gives you plenty of screen real estate by placing all of the buttons on its menu at the bottom and making them small enough to be ignored. The basic version of the program is anything but, featuring playlist and streaming support in addition to the ability to play just about any video on your PC. In addition to being a universal media player, this app is open source, which means you can find people who create new add-ons and builds for it, as well as create your own version. It's more than enough to be the only video player you'll ever need on your computer.
There aren't many videos this app can't play and play amazingly well. VLC Media Player (64-bit) is a favorite of many video watchers thanks to abundant format support, style, and customization options.