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I believe this is a bug. Here's what Adobe Employee Kevin Monohan, had to say about it.
Hi How Funny,
Transcoding is, indeed, a workaround. You should not have to do so with After Effects, provided the codec is on the list of supported import formats:http://help.adobe.com/en_US/aftereffects/cs/using/WS3878526689cb916558 66c1103906c6dea-7f86a.html#WSB108BC99-A69B-46c4-86D3-2192805C2AF8a
If you are having trouble importing your MP4 files, please file a bug report: http://www.adobe.com/go/wish
We would be interested in investigating this problem further.
Here's a link to the whole thread.
Thanks. I saw this post and it never really answered my question since the OP said that it was his fault. I still have this problem, so hopefully someone can help me.
I'll ask around and see if someone has better information.
Anybody else have any ideas on this? I have not found any solution yet.
Same issues here coming from CS5. Can we get some official recognition of this bug? Is anyone working on it?
Yes i have same problem-
Filmed using JVC 3CCD ProHD GY-HM100E camera
Concise problem statement:
Steps to reproduce bug:
1. Use video http://db.tt/RtfjyU6y
2. Open new project in Premiere Pro CS 6
3. Drag in my video- gives error
Results: In screenshot- Cant! http://postimg.org/image/c9rfq7gj5/
Heres G-spot of video http://postimg.org/image/bo727uaup/
Expected results: That it imports.. What to do?
Cant import in Premiere Cand in After Effects cant in Media Transcoder. Same error.