I believe that VideoLAN - VLC
is what you want on the server PC in streaming mode, and then your choice of VLC Android Apps
depending on your needs on the various Android device(s).
There are about a million options in the server configuration, which will allow you to run multiple instances each using a different configuration file (if needed) with different playlists for different devices, etc., given sufficient computing power on the PC. The remote Android apps can be tuned to different streaming ports on the server and so on.
VLC seems more limited by the imagination of the user than anything else.