If you drag the video to the theta app, it should prompt to start the conversion (flattening) for you. Note that there is a separate program called Theta V which is what you need to use with the V. The SC program will still open files, but can't process videos.
IMO youtube is the easiest place to obtain custom projections for playback, but there are also many third party tools (of varying ease of use) that can perform a conversion.
How to upload to YouTube easily from RICOH THETA | RICOH THETA Adam
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