UPDATE: It appears this is not the official release of VLC Player for Windows Phone. This is an unfinished and buggybuild which has unfortunately leaked. We'll keep you updated on news regarding VLC Player for Windows Phone. Original article follows.
On December 4th, VideoLAN released VLC for Windows Phone to eager beta testers, making a major milestone after over a year of promises and delays. Now, the app has exited beta and is officially available for download. Here is the official app description:
"VLC media player is a portable, free and open-source, cross-platform media player and streaming media server written by the VideoLAN project. VLC media player supports most audio and video compression formats, files and streaming protocols. This version is the fist beta of the port of VLC media player to the Windows Phone platform. This is the first version of the port to Windows Phone."
You can snag the app via the download link below. It comes in at 10MB in size and only works on Windows Phone 8.1.