Description:

Libmpeg3 supports advanced editing and manipulation of MPEG streams. MPEG is
normally a last mile distribution format but with libmpeg3 you can edit it like
a production format.

Unless you have a need for MPEG editing and copying, you're better off using a
consumer library like FFMPEG.

Libmpeg3 is primarily a supporting library for Cinelerra. It supports all of
the nonstandard operations Cinelerra needs. Libmpeg3 provides a uniform front
end for a large number of the MPEG formats used in HDTV broadcasting. It
decodes

MPEG-1 Layer II Audio
MPEG-1 Layer III Audio
MPEG-2 Layer III Audio
MPEG-1 program streams
MPEG-2 program streams
MPEG-2 transport streams
AC3 Audio
MPEG-2 Video
MPEG-1 Video
IFO files
VOB files

It can read the MPEG exports from Cinelerra.

A table of contents feature allows it to seek with frame accuracy regardless
of whether the footage has timecode or not, or whether the timecode is
contiguous.

Also included are utilities for stream extraction, format querying, and copying.