Drupal's native media handling ends at images and files. There is still a lot we can do in terms of adding a wide range of different media to Drupal-based sites. It's important for you to first make a decision about how you envisage your website's media handling to work. For example, are you going to show video or audio content directly from the local server? Take into consideration the fact that if you intend to host media files, you will need a hosting package that provides a lot of disk space and plenty of high speed bandwidth.