AVI video on a Mac error

Hi fellows,
I am a mac user and recently I have installed QuickTime player to play movies and videos.
Yesterday when I tried to play an avi format movie using QuickTime player, I got an error on my screens and the movie was not played.
The screenshot of the error is attached below:

The message states:
The document “want-to-believe.avi” could not be opened. The movie is not in a format that QuickTime player understands.
You may need to install additional software to open this type of file.
Tell Me More OK
Any help what should be done to remove the error?
Your suggestions are most welcome. Thanking you in advance.
Regards.
