I had to look to remember, I'm on a $10/year subscription for "Pro". From looking at their page I'd say some codec support is under the Pro license. I know I haven't thrown anything at it that needed transcoding, but I'm not playing anything exotic either.

Being annual and pretty cheap I really don't mind throwing them some money to continue development, it's worth it to me for the experience. I can't tell from the website but I feel like there's a monthly option if ya just want to test the waters.