VLC's stable release seems incapable of handling the encrypted stream at the point of writing this article. Since version 4.0 (nightly builds) it works well. Unencrypted SRT streams already work with the current builds.
Setup the Camera’s SRT stream:
Set the SRT password in the camera and REBOOT
Set matching SRT password in VLC settings menu.
Open a new network stream in VLC and use the following format.
Stream to a Wowza server with SRT
Make sure the camera has access to the internet (correct subnet and configure DNS)
Setup the SRT Transcoder on Wowza and copy the Host server address and Host port values to the camera:
Enable the SRT stream, Save the settings and reboot the camera. The stream should now be published to Wowza.
Vmix and SRT
There are two ways to setup SRT with VMIX, you can use both Caller and Listener mode. Which one works best depends on your installation. The usual culprit is the local Firewall that can be avoided using the Caller mode when accessing remote cameras.
Vmix SRT Listener
Setup Vmix to listen to the same port as set in the camera’s setting under Streaming Video. latency added by the Vmix decoder has to be at least 10ms for it to work. Stream ID in Vmix has to correspond with the Stream Name in the camera.
Make sure the Host Address in the camera is set to the IP address of the PC running Vmix.
When not using Encryption, please make sure to set the crypto length to 0
Vmix SRT Caller
Setup Vmix as SRT Caller and set the Hostname to match the IP address of the Camera and the Port as set in the camera under the SRT Menu. The StreamID in Vmix is to match the stream name of the camera as set under the Video Encoder menu
When not using Encryption, please make sure to set the crypto lenght to 0