Summary
The QuickTime Player utility does much more than play several video and audio formats. It lets you record your own movies, audio, and screencasts. It also lets you trim video and audio files, such as to take out silence in audio files, as well as export unprotected video for use in iTunes, Vimeo, Flickr, Facebook, and YouTube.
OS X has two versions of QuickTime Player installed: Version 10 that has the full playback, editing, and recording capabilities and the legacy Version 7 available only for playback of protected media files.
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