SVRT doesn't work with the GoPro clips. You can create a custom profile, but so far the closest I have come is a profile that SVRT works, but the video is grayed out in the produced video. I requested info from GoPro and all they could tell me is that it is H.264. I was hoping to get the exact codec that they use.
I have been using MP4 a lot for YouTube videos. It has to be rendered, so I don't know that it really matters as long as you use a format that meets your needs.
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CORNBLOSSOM