From the MPMoviePlayerController docs:
Supported Formats
This class supports any movie or audio file that already plays correctly on your iPod or iPhone. This includes both streaming content and fixed-length files. For movie files, this usually means files with the extensions .mov, .mp4, .mpv and .3gp and using one of the following compression standards:
1. H.264 Baseline Profile Level 3.0 video, up to 640 x 480 at 30 frames per second. (The base profile does not support B-frames.)
2. MPEG-4 Part 2 video (Simple profile)
If you use this class to play audio files, it displays a white screen with the QuickTime logo during audio playback. For audio files, this class supports AAC-LC audio at frequencies up to 48 kHz and MP3 (MPEG-1 Audio Layer 3) up to 48 kHz, stereo audio.
And yes, you can scale to fit your presentation or go in full screen, like on the iPhone.
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