Question: When I try to import any video file (e.g. AVI files) in Adobe Premiere Pro cc in my Macbook Air, I get this error:
**"codec missing or unavailable"**

What to do about it?

Answer: 
I encountered this recently when my Kodak digital camera recorded in .MOV, and I figured importing it should be a breeze. Nope. I kept running into a very unhelpful "File format contains no audio or video" error when dragging the .MOV file into my clip bin.

The solution was so simple it was almost ridiculous. After Googling for a bit, I found a YouTube saying all you had to do was change the filename extension from .MOV to .MP4, and boom - done. I didn't believe it at first, but sure enough - it worked like a charm! :-)

This was on Adobe Premiere Pro CC 2015, Windows 8.
All I did was add ".mov" to the file name and all is well!!!