This release contains many changes since 7.x-2.4. Please test this release carefully on a separate Drupal installation or make a backup of your database before you upgrade.
Users of Zencoder need to read the following change record and follow the procedure outlined in order to continue transcoding videos using the Video module.
Release 4.7 aims to resolve several issues around using FFmpeg with the video module. Some major changes have been postponed to version 5, keep an eye on the project page for a release announcement in the near future.
When you intend to use FFmpeg to transcode videos, make sure your FFmpeg installation handles all the file formats before installing the module. Linux distributions using precompiled binaries, such as Ubuntu, usually do not provide the best compile options and it is advised to compile FFmpeg yourself.