[VIDEO ISSUE] .mp4 files lose frames when imported

Cubase Pro 8.0.20
Mac OSX (Mavericks)

An .mp4 file imported into Cubase 8 “loses” three or four frames. For example, a video clip that has an exact length of 00:20 will have a length of 00:19:22 when imported. This is not the case when the same file is imported into Cubase 6.5.5 in the same project, on the same computer.

Steps to reproduce:

  1. Create new project in Cubase 8 and add a video track
  2. Import an .MP4 video file encoded with the latest H.264 codec
  3. Check the length of the video file.
  4. Do steps 1-3 in Cubase 7 or earlier. Note the difference in length.

Convert the video file to a .mov file using Quicktime Player 7 and Apple Photo JPEG codec. The length of the clip when imported into Cubase 8 will then be correct.