FFmpeg is a free and open source collection of tools for handling multimedia files. It contains a set of shared audio and video libraries such as libavcodec, libavformat, and libavutil.
With FFmpeg, I can convert between various video and audio formats, set sample rates, capture streaming audio/video and resize videos.

Setting Up FFmpeg on Cloudjiffy container

Click Here to download linux-64 based FFmpeg binary zip file and upload it to my container via File manager or copy the link to the file and download using the wget command.

Perform unzip ffmpeg-x.x.x-linux-64.zip command to extract the binary file

Perform chmod +x ffmpeg to make it executable.

Now I can use ./ffmpeg -version to test if the binary is working or not.