sed is the right tool, try doing :
var="movie.MOV"
sed -i "1s/.*/$var/" file.txt
explanations
1mean first line- the rest is the substitution
s///: we substitute everything (.*) by the$varvariable - the double shell quotation is mandatory here
Learn how to quote properly in shell, it’s very important :
“Double quote” every literal that contains spaces/metacharacters and every expansion:
"$var","$(command "$var")","${array[@]}","a & b". Use'single quotes'for code or literal$'s: 'Costs $5 US',ssh host 'echo "$HOSTNAME"'. See
http://mywiki.wooledge.org/Quotes
http://mywiki.wooledge.org/Arguments
http://wiki.bash-hackers.org/syntax/words