M4V is a video file format that has been downloaded from the Apple iTunes store. The format contains TV shows, videos, films, music. It looks like a .MP4 file, but it sometimes has copy protection when Apple's FairPlay DRM is used (technical copyright protection). The M4V format, i.e., MPEG-4 iTunes Video File, was developed by Apple. MP4 is a container format. Like the same formats as MOV, AVI, MKV, it provides the ability to combine a variety of multimedia streams into one file. Mostly it is audio and video. In order to play the protected M4V file, the computer must be authorized using the iTunes account from which the videos were purchased. In this case, it can be used in order to buy video. Unprotected M4V files can be played by other video players if the extension is changed from .M4v to .Mp4. Files with the M4V extension contain both sound and video data. You can convert M4V files to MP4 format. In this case, it will be possible to play them on other computers, since the M4V files are protected by DRM. MP4 files, compared to the M4V format, do not allow you to specify partition information.
VEP is a video editing project file. It does not contain a video recording, but only indications of what video clips to take and how to “dissect” them. She developed the VEP format, i.e. Video Editor Project, Online Media Technologies. Such files are created when you work with the program AVS Video Editor. This program provides the user with the ability to make their own videos or home videos. VEP files are responsible for keeping the timestamps of such videos. They also store a variety of reference data related to the video. Such data may contain information regarding both video data and audio data. VEP files use XML formatting, but they still have a few blocks of binary data that are encoded as text for sketching video and images. The VEP files created during the production of the AVS video file are located in the Content folder on the user's computer, and it, in turn, is located near the project folder. If you need to use the program AVS Video Editor, then note that all files to be edited must have the extension VEP. Once the video editing process is complete, you can convert it to its original format. You can also leave it in VEP format.