An error message such as this appeared:
no suitable decoder module for fourcc `h264'. VLC probably does not support this sound or video format.
No suitable decoder module:
VLC does not support the audio or video format "h264". Unfortunately there is no way for you to fix this.
It was missing lame-libs. A sudo yum install lame-libs solved my issue.
What is more important is how I solved this:
a) vlc -vvv mediafile.mp4
b) Look for yellow or red warning/error messages. A lot of information gets outputted.
0x1666118] main libvlc warning: cannot load module `/usr/lib64/vlc/plugins/demux/libavformat_plugin.so' (libmp3lame.so.0: cannot open shared object file: No such file or directory)
c) This message states that libmp3lame.so.0 does not exist.
d) sudo repoquery --whatprovides '*/libmp3lame.so.0'