Rick, I have used JWPlayer extensively together with many others (RadiantMedia player, FlowPlayer, THEOPlayer), JWPlayer had been very good but their charges kept on increasing while removing features, until I found EVP (Easy Video Player), written by someone from Romania and the guy is very supportive in terms of player setting up, a little code change let me import player code and the only code I have to insert is for video source and video poster.
EVP is so feature filled I haven't seen ANY (Remember I have done extensive research on players) , where all others players charges extra for things like Ad Support, HLS Streaming, Subtitle Support, EVP has it all in one player, and best of all its ONE time payment only for life time updates, unlike many others charging extra for features and on monthly basis.
You can check EVP HERE.
You may can wait a little as sometimes he brings down prices to as low as $25, but for a better deal (his all players, scripts, codes included) you can buy all his stuff for $99 HERE.
EVP will not provide you with hosting, but you can always use YouTube as streaming platform, keep video unlisted there and play within your EVP Player on your site.