Sorenson Media's Video 3 codec will not be included in Apple's QuickTime 5.0.1 release.

This means QuickTime 5.0.1 users will not be able to compress video, or playback QuickTime movies encoded or compressed with the Video 3 standard, according to

Development delays have prevented the Video 3 codec from being included in QuickTime 5.0.1.
According to MacCentral, Sorenson spokeswoman Kimberly Feller said: "Due to last minute changes that needed to be made to the Sorenson 3 codec, we were unable to meet the deadlines for QuickTime 5."

Video 3 is a major revision to Sorenson's Video 2. It encodes high-quality digital video with without changing the file size. Video 3 also supports technology for compression acceleration on single- and multiple-G4 systems.

QuickTime 5.0.1 will, however, encode and playback QuickTime movies made with QuickTime 4 and Sorenson Video 2.

Sorenson Media plans to release a Sorenson Video 3 Standard Edition for QuickTime 5.0.1. The Professional Edition - a commercial version of the Standard Edition - will be released within the next 30 to 60 days. Pricing is unavailable at this time.