Thanks to a post on the Raspberry Pi Foundation’s Message Board, where people have detailed the instructions on how to easily compile VLC Media Player with Hardware Acceleration. For this project, you’ll just need a Raspberry Pi and the basic peripherals: a power source, screen, keyboard and mouse, and microSD card (you need all of this to get Raspbian Installed in the first place, anyway).
Before we begin, a quick note for those of you who already have Raspbian, and may have installed VLC Media Player from Raspbian’s repositories: I recommend that you remove that version. You can do so by running the command:
sudo apt-get purge vlc