Avid Cinema: "Unexpected Error Occurred" And QuickTime (6/97)

When I try to launch Avid Cinema, I get the error message "The application 'Avid Cinema' cannot be opened because an unexpected error occurred." Why?
This is usually caused by having an old version of QuickTime installed. QuickTime version 2.1 or older will cause the error mentioned above and Avid Cinema will not work. Avid Cinema requires QuickTime version 2.5. Both the QuickTime and QuickTime PowerPlug files must be present in the Extensions folder.
Published Date: Feb 18, 2012