Back in 2005, as the early iterations of Facebook and MySpace were just taking off, owner realized there wasn’t a good way to share video content online. So, owner started working on creating something that could bring video content to the online community. That became the JW Player, which went on to be used in the first version of YouTube, and is now the third largest video player in the world.
JW Player is proprietary software, and is available in a free basic version for non-commercial use; videos are displayed with an overlaid company watermark. The commercial version is offered as software as a service (saas).
During the early development, before its purchased by Google, YouTube videos were streamed by JW Player.
https://en.wikipedia.org/wiki/JW_Player
http://www.thedrum.com/news/2015/08/07/how-jw-player-became-largest-video-player-behind-youtube-and-facebook