Ask HN: Which streaming media server and video player to use?

I have a database consists over 1,000 hours of video contents. I have average of 1 million unique visitors monthly. I would like to achieve being under $500 monthly of the maintenance costs.

I am looking for a streaming media server that can stream internationally level and capable of starting 720p-1080p video quality in few seconds.

Also, I am looking for right video player that can be customized the skin and features, and include pre-, mid-, and post-video ads, and slide in banner ads. Some recommended me to Long Tail Video. Do you have better suggestion?