Программа позволяет работать с файлами в форматах MP3, OGG, AAC, WAV, MOD, XM, S3M, IT, MIDI и т.д., поддерживает воспроизведение видео (AVI, ASF, MPEG, NSV), имеет большое количество настроек и параметров, обладает возможностью смены скинов, имеет хороший модуль визуализации, медиа-библиотеку и т.д.

Winamp является универсальным мультимедийным проигрывателем аудио и видео файлов: mp3, wav, avi, mp4, mid, wma, ogg, mod, cda и т.д.

Winamp 5.54
* New: Chinese, Japanese & Korean installer translations and language packs
* New: [in_swf] Adobe Shockwave Flash (SWF, RTMP) playback support
* New: [gen_dropbox] Winamp DropBox alpha (use: Ctrl-Shift-D)
* New: [Online Services] AOL Radio featuring CBS Radio (requires in_flv)
* Improved: Background reading option for playlist metadata
* Improved: Classic songticker scrolling for Winamp Modern skin pledit winshade
* Improved: Vista elevation (fixes: installing skins, filetype reg, Pro reg)
* Improved: Zero padding option for playlist item numbers
* Improved: [in_flv] Better streaming support and other improvements
* Improved: [in_mp3] Added APEv2 tag options to configuration
* Improved: [in_mp3] Optional retention of existing APEv2 headers
* Improved: [ml_disc] Artwork support for Data CD Reader
* Improved: [ml_disc] Better detection of any copy operations in progress
* Improved: [ml_disc] Improved start times if ml_disc view is active
* Improved: [ml_local] Redesigned 'Show Info' panel
* Improved: [ml_nowplaying] Redesigned 'Now Playing' artist experience
* Improved: [ml_playlists] Right-click option to sort list of playlists alphabetically
* Improved: [pmp_usb] Connect/Disconnect/Blacklist config options
* Fixed: Alt+F4 closing Winamp instead of individual dialogs
* Fixed: Bento browser redirecting network drive url's to Winamp Search
* Fixed: Blank playlist when in docked toolbar mode and Winamp is minimized
* Fixed: Modern skin component windows appearing individually in Alt+Tab
* Fixed: Multi-flashing on startup when previously closed whilst minimized to systray
* Fixed: Pure Virtual Function Call runtime crash errors
* Fixed: Redraw issue when built-in classic vis is disabled
* Fixed: Various multi-monitor docking issues
* Fixed: Various other 5.53-specific keyboard accelerator issues
* Fixed: [Bento] Drag+Drop into Playlist from Open Files dialog
* Fixed: [burnlib] 'CD Drive locked by another Winamp process' on 2nd burn attempt
* Fixed: [burnlib] 'Burner releasing failed' error
* Fixed: [dsp_sps] Crash on close when config Help dialog is still open
* Fixed: [enc_flac] MD5 checksum generation
* Fixed: [gen_ff] Attached vis plugin crash on winshade to normal mode in Modern skin
* Fixed: [gen_hotkeys] Assigning Winkey with already used Ctrl combinations
* Fixed: [gen_ml] Enter/Shift+Enter broken for ML treeview items (5.53-specific)
* Fixed: [in_cdda] Composer/Conductor logic bug when saving CDDB data to database
* Fixed: [in_flac] Minor metadata writing bugs
* Fixed: [in_midi] Seeking with 'DM/MS Synth' device in Streamed playback mode
* Fixed: [in_mp3] Crash on files with invalid/corrupt gapless data
* Fixed: [in_mp3] Create new ID3v1/v2 tags configuration setting
* Fixed: [in_vorbis] Huge lag on files with large embedded cover art
* Fixed: [in_vorbis] Metadata & Format Info display for streams in View File Info
* Fixed: [in_vorbis] Potential unicode-related crash on open/close issue
* Fixed: [jpeg.w5s] Saving corrupt album art
* Fixed: [ml_autotag] Results dialog hidden under Winamp when AOT is enabled
* Fixed: [ml_disc] Small resource leak
* Fixed: [ml_playlists] Enter/Shift+Enter broken for selected ML Playlist items
* Fixed: [ml_playlists / ml_transcode] Sending playlists from ML tree to Transcoder
* Fixed: [ml_wire] 404/timeout with valid rss feeds on Vista
* Misc: Miscellaneous localization tweaks, fixes & updates
* Misc: More miscellaneous general tweaks, improvements, fixes and optimizations
* Misc: Setup fixes (Agent not always starting, WLZ filetype not registering, etc)
* Misc: Various other 'Winamp Modern' & 'Bento' skin updates
* Misc: [enc_flac] Now encodes using libFLAC instead of Flake
* Updated: Bento skin v1.2
* Updated: freetype 2.3.7
* Updated: libpng 1.2.28
* Updated: [enc_lame] LAME 3.98