I recently bought the canon 550 camera and tried to open the video footage on premiere element 7 but was unable to do so - an error message popped -up saying '...codec not installed.' I have downloaded the latest dng and it works for converting the raw images but not the video. The video footage is currently on my hard drive. Am I uploading the footage incorrectly or is element 7 not up to date with the canon 550 camera?
Video from still cameras like this usually needs to be converted --ideally to DV-AVIs -- before it can be used in Premiere Elements, as we discuss in the FAQs to the right of this forum.
If this video is an MPEG, you can convert it with MPEG Streamclip.
If it is an MOV, you can convert it with Super or Quicktime Pro.