If you install Banshee on your Linux box expecting it to play music, you’re in for a surprise. Banshee depends on the GStreamer codec packages for audio and video decoding (and encoding).
Unfortunately, most of the codecs you want are not packaged with most Linux distros by default.
Does Banshee support audio/video format X (mp3, aac, mpeg, etc)?
Banshee uses GStreamer for audio and video decoding (playing) and encoding (ripping, format conversions). Whatever codecs you have installed for GStreamer, Banshee will be able to use (with a small number of exceptions).
— From the Banshee FAQ.
While installing Banshee you should install a few of the GStreamer packages as well.
$ apt-get install banshee gstreamer0.10-ffmpeg gstreamer0.10-plugins-ugly
First add RPM Fusion to your list of yum repositories. Then install.
$ yum install banshee gstreamer-ffmpeg gstreamer-plugins-ugly
Once you install the GStreamer packages Banshee should work as expected.