The version supplied is significantly out of date, to the point where I faced issues with specific codecs relying on a newer version. I would prefer an official build or repository.
Install from a Repository
You can install the latest supported version from the Official PPA. This has the added benefit of being an official build and distribution channel, maintained by VLC themselves.
sudo apt-add-repository ppa:videolan/stable-daily && sudo apt-get update && sudo apt-get install vlc
The official PPA from Videolan does not contain all the libraries needed to run VLC like HEVC support. This PPA is specifically for users looking for media updates. Its contains the latest version of VLC and other popular video players.
sudo add-apt-repository ppa:mc3man/trusty-media sudo apt-get update sudo apt-get dist-upgrade sudo apt-get install vlc vlc-plugin-*