The free VLC video player has received support for the latest Macs with M1 chip in the latest version.
In addition to numerous bug fixes and minor adjustments of the main window to the Big Sur design, users of a more modern Mac with Apple processor can look forward to corresponding software adjustments.
The installation is done in two steps: first you download the normal file available here and install VLC. Then you update again to 220.127.116.11 and get the version optimized for the M1 CPU.
VLC is not only available for macOS: the software is available for almost every platform. So no matter where you want to play any movie format, VLC supports pretty much everything.