Imovie wont export - says The operation couldn’t be completed. (com.apple.Compressor.CompressorKit.ErrorDomain error -1.)

Trying to figure out what happened. Just updated my OS System and now I can't export a 2-minute i movie. I keep getting a little message that says:

The operation couldn’t be completed. (com.apple.Compressor.CompressorKit.ErrorDomain error -1.)

What do I do? I tried shutting it down and restarting while holding down the shift key and then restarting again. Not helping.