Thanks for your help.
Unfortunately if I need to perform a conversion of all my video files before I can import, I may need to look at alternative products as this extra step is going to significantly increase editing time.
Thanks JsBarrett and Aladdin4d!
I used handbrake as per the guide and was able to successfully import the media after processing.
So it would appear that I need to run compression on my video files before I can use them (I'm assuming this is like …