At QuickTime Live!, which kicks off on Monday in Beverly Hills, Apple is expected to announce QuickTime 5.1 with support for MPEG-4, MacMinute sources have confirmed, after a c|net RumorMill report first noted this Thursday evening. The MPEG-4 video format is designed to allow for interactive, broadcast-quality video streams that require far less bandwidth than traditional content delivery techniques. Additional details on the release of QuickTime 5.1 are unavailable at this time.