The best way is to use layers insted of views:
AVPlayer *player = [AVPlayer playerWithURL:[NSURL url...]]; //
AVPlayerLayer *layer = [AVPlayerLayer layer];
[layer setPlayer:player];
[layer setFrame:CGRectMake(10, 10, 300, 200)];
[layer setBackgroundColor:[UIColor redColor].CGColor];
[layer setVideoGravity:AVLayerVideoGravityResizeAspectFill];
[self.view.layer addSublayer:layer];
[player play];
Don't forget to add frameworks:
#import <QuartzCore/QuartzCore.h>
#import "AVFoundation/AVFoundation.h"