How to manage video content including chapter markers and CC
Here's the solution I'm working on:

new Content Type: Video.

This content type has file fields for each file, two video type, up to 10 closed caption files, and chapter markers. 

Then I add a node--video.tpl.php
Within the node template I'm then doing this: 

 $mp4 = ltrim ($node-&gt;field_mp4_video[und][0][uri], 'public:/');
 $webm = ltrim ($node-&gt;field_webm_video[und][0][uri], 'public:/');
 $vtt = ltrim ($node-&gt;field_chapter_markers[und][0][uri], 'public:/');
 $encc = ltrim($node -&gt;field_closed_captions[und][0][uri], 'public:/');
 $escc = ltrim($node -&gt;field_closed_captions[und][1][uri], 'public:/');


ltrim trims the public:/ from the front of the string and printing that inside the video element:

&lt;video width="100%" height="100%" style="width:100%; height=100%;" id="player2" controls="controls" &gt;
  &lt;source src="../sites/default/files/&lt;?php print $mp4 ?&gt;" type="video/mp4"&gt;
  &lt;source src="../sites/default/files/&lt;?php print $webm ?&gt;" type="video/webm"&gt;
  &lt;track kind="subtitles" src="../sites/default/files/&lt;?php print $encc ?&gt;"  srclang="en" /&gt;
  &lt;track kind="subtitles" src="../sites/default/files/&lt;?php print $escc ?&gt;"  srclang="es" /&gt;
  &lt;track kind="chapters" src="../sites/default/files/&lt;?php print $vtt ?&gt;"  /&gt;
  &lt;p&gt;Unsupported in this browser.&lt;/p&gt;
&lt;/video&gt;


The un-solved issue is if there's more than the English and Spanish closed-captions. Certainly solvable, but probably outside of the scope of the project as currently budgeted.

Also, Drupal is throwing an error Notice: Use of undefined constant.... I'll tackle that in a separate question.