K-Lite Codec Pack - in various versions contains all the most popular codecs for playback and video encoding (except for versions of Basic). QuickTime Alternative and Real Alternative are additional packages in order to play the respective formats and contain the basic components of the official players.
Update This update applies to all packages of the series, namely for K-Lite Codec Pack 10.1.5 in various versions (Lite, Basic, Standard, Full, Mega Codec Pack).

K-Lite Codec Pack Features:

It it always very up-to-date with the latest versions of the codecs.
It is very user-friendly and the installation is fully customizable, meaning that you can install only those components that you really want.
It's easy to make an unattended installation.
It has been very well tested, so that the package doesn't contain any conflicting codecs. It tries to avoid potential problems with existing codecs and even fixes some problems.
It is a very complete package, containing everything you need to play your movies.
There are different packages. From small to extra-large.

Changelog:

Changelog
Updated MPC-HC to version 1.7.6.217
Updated LAV Filters to version 0.62-21-g9882f97
Updated Codec Tweak Tool to version 5.9.0
Updated MediaInfo Lite to version 0.7.70
Updated Icaros to version 2.2.6
Improved HEVC video decoding performance
MPC-HC now supports displaying external coverart (e.g. folder.jpg) when playing audio files. Support for embedded coverart will be added in a future version.
Added options to the installer to configure your preferred languages for embedded audio and subtitles.
It tries to detect your native language based on the Windows language and country settings. Feedback is appreciated! Additional languages are added on request.
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Changelog Update 10.7.2:
Updated MPC-HC to version 1.7.6.234
Updated LAV Filters to version 0.62-26-ga42436a
Updated xy-VSFilter x86 to version 3.0.0.300
Updated VSFilter x64 to version 2.41.234

Version: 10.7.1
Version Update: 10.7.2
Language: English