Two weekends ago an update on VLC was shared during a presentation in Brussels at FOSDEM. Jean-Baptiste Kempf covered VLC's continued vibrant development and features that are coming for VLC 2.2 along with VLC 3.0.
VLC 2.2.0 will feature automatic, GPU-accelerated video rotation support, extension improvements, resume handling, support for new codecs/formats and rewrites to some of the existing formats, VDPAU GPU zero-copy support, x265 encoder support, etc. Back on 31 January it was said VLC 2.2.0 would come "next week", but that didn't pan out. In VLC 2.2 Git the latest version was 2.2-rc2 from two months ago, though it does look like VLC 2.2.0 will be officially released quite soon.
Further out is VLC 3.0.0 and it will have Wayland support, GPU zero-copy support for OpenMAX IL, ARIB subtitle support, HEVC / VP9 hardware decoding on Android, a rework of the MP4 and TS demuxers, and browsing improvements. The VLC FOSDEM 2015 presentation can be viewed in PDF form.
Via this Git page is also a more extensive list of the VLC 2.2 and VLC 3.0 changes right now. Some of the other listed VLC 2.2 changes include more modules being licensed now under LGPLv2.1+ rather than GPLv2+, Blu-ray improvements, Digital Cinema Package support, support for Core Audio Format files, a 3D OpenGL spectrum visualization, and security fixes. Other VLC 3.0 Git improvements include the work on Wayland support, support for HTTP Dynamic Streaming (HDS) from Adobe, a screen capture plug-in for Wayland, support for Daala video, a Daala in Ogg muxer, batch covert support in the Qt interface, libVLC improvements, and support for the systemd journal.