Here’s an application note from Microchip describing how to implement video playback, and streaming on PIC32 microcontrollers. The article is written around the Multimedia Expansion Board which features an LCD graphics controller, but it’s enough to grab the basic concepts for your own design.
This application note describes four methods of playing a video file using a PIC32 microcontroller (MCU) and hardware solutions available from Microchip. Two major constraints for these solutions are the bandwidth required for the data access and the processor speed.