I found a deal for a Racknerd KVM VPS on lowendbox.com–I’m not seeing the same one, but similar offers pop up often!

I’ve got Jellyfin on a cheap ($20/year) VPS, and used SSHFS to attach it to some external hard drives attached to a Raspberry Pi. My upload speed is only 10 mbps, but that seems enough for most movies and TV shows, and multiple users can watch simultaneously via SyncPlay. Transcoding works too (up to 1080p)