This article investigates the performance of various sophisticated channel coding and transmission schemes for achieving reliable transmission of a highly compressed video stream. Novel error protection schemes including Non-Convergent Coding (NCC) scheme, Non-Convergent Coding assisted with Differential Space Time Spreading (DSTS) and Sphere Packing (SP) modulation (NCDSTS-SP) scheme and Convergent Coding assisted with DSTS and SP modulation (CDSTS-SP) are analyzed using Bit Error Ratio (BER) and Peak Signal to Noise Ratio (PSNR) performance metrics. Furthermore, error reduction is achieved using sophisticated transceiver comprising SP modulation technique assisted by Differential Space Time Spreading. The performance of the iterative Soft Bit Source Decoding (SBSD) in combination with channel codes is analyzed using various error protection setups by allocating consistent overall bit-rate budget. Additionally, the iterative behavior of SBSD assisted RSC decoder is analyzed with the aid of Extrinsic Information Transfer (EXIT) Chart in order to analyze the achievable turbo cliff of the iterative decoding process. The subjective and objective video quality performance of the proposed error protection schemes is analyzed while employing H.264 advanced video coding and H.265 high efficient video coding standards, while utilizing diverse video sequences having different resolution, motion and dynamism. It was observed that in the presence of noisy channel the low resolution videos outperforms its high resolution counterparts. Furthermore, it was observed that the performance of video sequence with low motion contents and dynamism outperforms relative to video sequence with high motion contents and dynamism. More specifically, it is observed that while utilizing H.265 video coding standard, the Non-Convergent Coding assisted with DSTS and SP modulation scheme with enhanced transmission mechanism results in Eb/N0 gain of 20 dB with reference to the Non-Convergent Coding and transmission mechanism at the objective PSNR value of 42 dB. It is important to mention that both the schemes have employed identical code rate. Furthermore, the Convergent Coding assisted with DSTS and SP modulation mechanism achieved superior performance with reference to the equivalent rate Non-Convergent Coding assisted with DSTS and SP modulation counterpart mechanism, with a performance gain of 16 dB at the objective PSNR grade of 42 dB. Moreover, it is observed that the maximum achievable PSNR gain through H.265 video coding standard is 45 dB, with a PSNR gain of 3 dB with reference to the identical code rate H.264 coding scheme.