Open Source is all about contributions. Countless numbers of developers are all giving of their time and talents to code, document, test, design, and deliver software so that the end user may benefit from it. The video module is here to contribute service to the community.
The non-profit video module team is able to provide its services to the open source community thanks to the generous support of individual donors.
Our main goal is to provide a helpfull, easy and good understandable handbook to all Video Module users. The simplicity is the main reson of using video module addition to its solid technical background.
This handbook containg installation guide and traubleshoot guide.
Download Latest version from project page
Download Video Module from project page
At its core, the Video module is a field and handler for CCK; it enhances CCK and Filefield to provide video uploading, video transcoding (local ffmpeg default), video thumbnail creation and selection; and choice of playback method per format.
Additional features for Video module include: Zencoder transcoding integration, Amazon S3 integration and attaching FTP'd file to nodes.
Other modules which Video module integrates with are; SWF Tools and Flowplayer (use these if you need more video player options).
Once you have installed and configured CCK, Filefield and video player (optional) you can then install Video module from the module administration page (Administer > Site building > Modules). 
Link : Detailed description on installing contributed modules.
Now that Video module is installed, it's time to configure it from Admin > Settings > Video (admin/settings/video). Configuration is split into tabs:
These options allow you to control how the Video module acts.

Each video extension, has a Drop down choice for the type of player to be used for the video, when selecting SWF Player or FLV Flash Players, a radio list will appear with a choice of Flash players. If you are using Zencoder/Amazon S3 configuration please use Flowplayer *without* Flowplayer enabled in SWF Tools as they share the same folder name and will conflict.

On the transcoder page you have a choice of two built in transcoders, if you would like to use Zencoder module, you can do so from here, otherwise you will be using FFMPEG.
FFMPEG will use locally installed FFMPEG so, it is REQUIRED (ffmpeg.org/) to have installed the FFMPEG on your server, FFMPEG will only have basic options but for advanced FFMPEG like watermarking etc. FFMPEG is processor intensive and you will need to have fast server and lot of resources to handle FFMPEG properly, so if you need light weight, fast way to convert videos or if your in a shared hosting you can use Zencoder transcoding API. Zencoder is a award winning video delivery platform.
Configure Zencoder : video.heidisoft.com/documentation/configure-zencoder

Drupal 7 presets are exportable so you can download the Features package from here(D7 only).
Presets are set of predefined transcoding profiles. Read more about presets. In presets you can select these combinations.
Currently you can only select those combinations. If you need any more you can create new presets. This module is still incompatible with HTML5 and Flash combinations. You can contact author for more details or new features.

Metadata is particularly useful in video, where information about its contents (such as transcripts of conversations and text descriptions of its scenes) are not directly understandable by a computer, but where efficient search is desirable. To extract metadata from video we are using FLVTools2, so we strongly recommend you to install FLVTools2. github.com/unnu/flvtool2, once you successfully install module just check the Enable Meta Data check box
Required Install : github.com/unnu/flvtool2

Enable the Amazon S3 to use Amazon S3 storage.

In order to enable the Amazon S3 service, you must have already signed up or sign-up here (aws.amazon.com/s3/), enter your Access Key ID, Secret Access Key (available from AWS - Amazon Web Service). Create a bucket name, we suggest you to have "sitename.drupal.video". Clicking the Save Configuration will store your details for later use.
Enable the Amazon S3 service to use with video module.

Cron setting to convert videos, this will use Drupal cron if you enable it from here, it is easy for testing but not for products, for the production we highly recommend you to set up crontab for video_scheduler.php as below. You can find that file in the video directory.

The crontab should look something like this:
# m h dom mon dow user command */20 * * * * www-data cd /absolute/path/to/video/module; php video_scheduler.php # m h dom mon dow user command */20 * * * * www-data cd /absolute/path/to/drupal; php cron.php
This will execute the video_scheduler every 20 minutes.
Note that the video_scheduler doesn't produce any output and cannot be called from the web. It will, however, put some information in the watchdog.
You can use Drush too, video module is compatible with Drush, this means you can just drop the video module within the module directory like any other module, enable it and the video-scheduler command is available, nothing extra to do in the setup.
Zencoder is the best encoding technology on the market with hundreds of custom optimizations delivers your video in less time than the length of the video. Even at HD quality.
Note : This module will need to have public access to your development server, once you submit a job then Zencoder will postback some info to your server once conversion is completed, then only autothumbnail and status update in the database will happen. In the Zencoder Transcoder settings you can see the post back URL there.
Go to Admin->Site Configurations->video->transcoders
Select Zencoder as your transcoder and type your email address to start using it. If you want to enter new Zencoder account always use Drupal interface. You can simply reset to default value and create new acccount. Make sure you register your Zencoder acccount only through the module page.

Once you save your site configurations, you will receive a email with all the details, including how to login to this and how to manage a job. Once you create your Zencoder for Drupal account now you will need to change permissions of your Amazon S3 bucket (Hope you already have configured Amazon S3 settings, if not do it now.)
Check for post back settings permissions.

You need to grant Write access to aws@zencoder.com so we can upload the processed file. The easiest way to do this is to use a S3 client, like S3Fox or S3Hub. Please note that it is the S3 bucket and not the S3 folders, which are part of the key, that need Write permissions
Now you can change the output configurations as you wish and now your ready to create videos with Zencoder support. You must set up and run cron properly to work, this.
Zencoder is based on the needs of hundreds of real-world customers. We’ve even built several video websites ourselves over the years. So we know what’s important in a video transcoding service (and what’s not). Zencoder is designed to be incredibly powerful where it matters, and dead simple whenever possible. And if there’s something specific that you need that we don’t already do, get in touch!
Compatible
Fast
Powerful
Scalable
Secure
File compatibility is one of our top priorities. In fact, we often have our customers send us files that don’t work in other systems, and to date, we can process 95% of files that other systems can’t handle. We even fix problems with some corrupt files.
Input Video Codecs
Input Audio Codecs
Container Formats
We know that fast encoding is important. You shouldn’t wait 10 minutes for your job to start, and once it starts, it should be blazingly fast. So we’ve optimized Zencoder for speed.
We care about video quality. At low bitrates, video should look good – there is no reason why users on a slow DSL connection shouldn’t see good quality video. At high bitrates, video should look amazing – as good as broadcast HDTV. And on the flip side, there is no reason why excellent video shouldn’t be small enough to stream.
Zencoder scales to massive levels. Need 50,000 files processed a month? Got it. 5,000,000? No problem. 5? That’s fine too. Our system scales automatically to handle any load.
Zencoder supports a plethora of inputs, but we’ve focused on only the most important output formats. We’d rather do an awesome job with 4-5 output formats than a mediocre job with 20.
Output Video codecs
Output Audio codes
In order for you or your users to start uploading video using Video Module, you must add a Video as a content type on your site.
Go to Administer->Content management->ContentTypes.
Click on "Add content type" at the top.

Then click "Save content type"
Next, click on "Manage Fields"

Next,Click "Save"

We did a small change in selecting thumbnail and video sizes in the latest version as below.

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Click "Save field settings"
Next, go to "Display fields"

Click "Save"
Now you have successfully created Video node type, go to Node->Add and Create video nodes

Click "Upload"
Then you can see Video Node

Add title and click "Save"
Please contact me to add your video module post here.