Did you know that the latest VLC player version they can get is 1.1.12? As of today, the most recent version available is 2.0.4 which is able to install from Ubuntu 12.04. So, VLC users have to either have to upgrade Ubuntu version, or be stick with an older 1.x versions.
But there is a way to install VLC via a PPA from VLC Daily Build of master branch. It's ppa:videolan/master-daily . I first tried ppa:n-muench/vlc, but it never worked for me. This worked flawlessly. The technically savvy people may now go ahead and install VLC by using this PPA. Others or if you are just interested, follow the instructions below to get it installed.
First enter the following command to add this PPA to your software sources
sudo add-apt-repository ppa:videolan/stable-daily
Now, you can update your software indexes, and install VLC.
sudo apt-get update && sudo apt-get install vlc
Now, you have a nice looking VLC at your hand. They say the performance is improved too among other new features. But I'm yet to test those! :-)