Using Amazon S3 - rather than hosting on your own server, or using CloudFront rather than a different Content Delivery Network (CDN), has a ton of benefits...
The list is just endless.
And because AWS has such fantastic API’s for developers, there are a lot of software and services and WordPress Plugins - both free and paid, and sometimes really inexpensive ones too - that have been created to make your website work with Amazon S3 and all of the integrated services.
And that means you get a huge array of options to choose from, and at super-competitive prices.
Or if you’re technical, have the time and resources, and that's a priority, then you could even develop your own software and plugins too - which is how I ended up creating S3MediaVault back in late 2008/early 2009, and the plugin was launched later in 2009.
And I did that because there was almost zero competition for such plugins back then. And the lone plugin that was in existence at the time (they're defunct now), didn't have everything covered, especially the features I wanted, and I felt I could build a better mouse-trap. And so I did 🙂
Video Resolution Switcher
Streaming Videos vs. Progressive Downloads
Amazon S3 Pricing: How Expensive is it to use S3?
How (and Why) to use Amazon S3 to Deliver Audio, Video and PDF on your WordPress website
Storing Video & Audio On Your Website (Hint: Don’t!)
How can I stream videos in my Amazon S3 account in my website?