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Streaming Transcoding failed

If you get the following error in VLC while trying to create a screenshot or snapshot:

Streaming / Transcoding failed:

VLC could not open the encoder

Then all you need to do is go to Tools>Preferences>Video>Video snapshots.

For format, select "png" instead of jpg.

Press Save, then restart VLC (if there is an icon in the taskbar, close that as well) for settings to take effect.

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