The reason that the video is not playing is because the video uses certain "codecs" to decode the video. (It is basically a way that the computer interprets how to display the video on your screen.)
You need to install a good codec pack so that you can play all formats of video and/or audio.
I recommend using K-Lite Mega Codec Pack. It plays everything from Windows Media (AVI) to Quicktime files and just about everything in between. This is a very widely-used and popular codec pack. It also comes with a much simpler version of Windows Media Player. (It shows as an older version...and even looks like an older version, but it is only based on the older version as it honestly worked much better than newer versions.)
Here is the link.
to download the codec pack.)
Just use the DEFAULT installation. Don't change anything. There is no need to. Once it is installed, it will use the version of Windows Media Player that I just mentioned by default.
But if you still wish to use version of Windows Media Player that you currently have installed, then you may feel free to do so. It will still play videos using the same codecs that were installed by K-Lite. (All A/V programs will use the codecs.)
Another player I have recently found is GomPlayer. Very nice interface. Clean and easy to use. Install K-Lite and try out GomPlayer if you like afterwards.HERE
is a link. According to the site, you may not have to install any other codec packs after installing GOMPlayer. That may or may not be true. It IS OK if you install both.
Good luck. Let me know how it goes. :)