What functionality does Amazon Elastic Transcoder provide?

Amazon Elastic Transcoder is designed specifically to convert media files into formats suitable for various playback devices. It takes video files and transcodes them into different formats and resolutions, which makes them accessible across a wide range of devices such as smartphones, tablets, and gaming consoles. This service simplifies the process of preparing video for different platforms by handling the technical complexity of encoding, enabling users to focus on content rather than on the intricate details of video formatting.

While the other options involve aspects related to video processing or storage, they do not accurately describe the primary functionality of Amazon Elastic Transcoder. For instance, real-time video streaming is not within the scope of its capabilities, as it focuses on transcoding rather than live transmission. Similarly, video ad insertion and the storage of video assets entail different functionalities typically provided by other services like AWS Elemental Media Services or Amazon S3.