Quicktime is one of the most use software to play audio and video now days. Quicktime is available as a free downloadable program or PRO that requires us to buy the license. This program has been around since 1991. When its first developed, it is only developed for Mac. However in 1992, to widespread the adoption of Quicktime, Apple contracted an outside company to make Quicktime compatible for Windows platform.
Quicktime have a wide range type of file compatibility. It support MPEG-1 to MPEG-4, WAV, AIFF, MOV, AAC and many more. In 1998, ISO approved Quicktime as standard container of MPEG-4 which means Quicktime became the standard for more advance multimedia program that able to capture, edit, archive and also distribute media. It also one of the programs that can be use to make an audio podcast (available in Quicktime PRO).
The latest version of Quicktime that available is 7.5. However, the most use one and the one we normally found is version 6 (which already been downloaded for more than 350 million times).
Aside from its excellences, critics criticize Quicktime for its sluggish performance to encoding or decoding video and inferiority in their H.264 compression.
That is a little information from me about Quicktime.
I also include some link below that have serve me well as my reference.

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