Drupal 7 - how to use jw player using videos located on a CDN
I did something similar for flowplayer. I had nodes created for legacy videos stored in Amazon S3 and added this code to the node--video.tpl.php:

 $mediaid = $content['field_mediaid']['#items'][0]['value'];
  if ($mediaid != '') {
      $video2 = '&lt;a href="http://username.s3.amazonaws.com/videos/ka/'.$mediaid.'.mp4" id="player" class="flowplayer"&gt;&lt;/a&gt;';
              flowplayer_add('#player', array(
                'clip' =&gt; array(
                  'autoPlay' =&gt; TRUE
                ),
              )); 

        print '&lt;BR&gt;&lt;BR&gt;';
        print $video2;


There are other player options available as well, video.js seems to be more modern.