How do I watch downloaded movies on my MacBook? (see details)

I used Demonoid to find a torrent, then downloaded the movie using uTorrent. When I had a PC I would open the downloaded movie in the Downloads folder then drag it to iTunes and watch it there. I tried doing the same thing with my MacBook Air but the file wouldn’t drag into iTunes. I also don’t have an application that I can use to watch this movie. Would VLC work? Is there any way I can get this file into my iTunes? (that is how I prefer to watch the movie)