Hi there,
I am expert Android developer and create your desired Application, even with its Admin Panel! You can be sure of that, since I created a similar one.
You would be able to add Videos to your admin panel from YouTube, Daily Motion, Vimeo and also upload you own video (.mp3 and .3gp) and the app will play them.
You would be able also make categories and favorites videos on demand!
Let's simply discuss your task! I will be happy to help you with this project.
With best regards,
Sargis