QuickTime is a multimedia technology developed by Apple Computer, capable of handling various formats of digital video, sound, text, animation, music, and immersive virtual reality panoramic images. QuickTime 7 offers a step into the next generation with support for H.264 high-definition video playback, surround sound, and many more exciting new features.
Download: QuickTime 7.0.3.50
News source: Dan's Dome Blog