Another reason for the “video format is not supported issue” to arise is that the file format you are trying to play is not compatible with the respective media player. In such cases, the media file likely uses a codec that the media player does not support. Hence, the file does not play.
What do you do when it says file format not supported?
One quick workaround to get rid of this error is to simply change the location of the problematic file. In other words, copy the file and then save it somewhere else on your phone. For example, if the problematic file is an image or video, open the Gallery and create a new album. Then add the file to the new album.