Ive been at this for a few weeks now, posting on unity answers has given very little help. I cant get the file to import correctly (the file is an mp4 and is 86 MB, the resolution is 1920 x 1080 but ive also tried changing that to 1920 x 960 because i heard that works better). Whenever i try to import it, the editor either freezes and i have to close it through the task manager, or it tells me quicktimetools.exe has stopped working, or on a rare occassion, it will import the video, but when i try to play it in the preview, it only plays the sound, shows a black screen for the video and it freezes the editor and i have to close unity through the task manager. The video plays perfectly fine in quicktime when i double click it. Ive also tried converting the video to every compatible file type, same results. I noticed when i run unity as administrator it will let me import a small regular video file, but not the 360 mp4. This has been driving me crazy i cant figure it out for the life of me. I know its possible to do because ive seen apps made with unity that play 360 videos. Please Help!!
Presumably you are trying to use Unity movieTextures, which means Unity is importing and then converting your video to Ogg Theora. If the editor is freezing then either your machine is not up to the conversion ( unlikely ) or there might be an issue with the the Ogg converter in Unity.
What you could try if you still want to use Unity MovieTextures is to find an Ogg Theora converter application and use that to convert your original video. If I remember correctly dropping in a ogg formated video file should avoid Unity trying to re-convert it.
As to how others have got video playback working, myself and most other examples have used AVProWindows plugin, though even then you’ll need to install codec packs on target machine and more to get HD/4K playback. I’ve discussed my experiences in the AVProWindows thread here. Obviously this is only for Window builds, not sure what the best approach is for Android/GearVR.