When selecting cheap shared website hosting, be sure that the web host provider is reliable. I would like to recommend you hostome.com, they offer Reliable and Cheap hosting solutions along with many useful features included into them.
Any web host who allows ffmpeg, file/image hosting, proxy scripts, or any cpu intensive apps on there shared host will either have a cpu limit with auto suspend which you will hit fast or will be a very oversold/bad server.
Try heading to a vps first its very cheap now a days.
Even if you decide to go with a shared hosting make sure to ask your hosting provider will they be able to migrate your account later if you decide to upgrade to a VPS.
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