In wmp help it shows this as compatable file types that it supports :
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File types
The File Types tab displays the following available file types (formats) that Windows Media Player can play. Select the check box next to a file type to make Windows Media Player the default player for that file type. Clear the check box next to a file type if you want to make another player the default player for that file type.
If a selected check box is dimmed, Windows Media Player has only partial ownership of the file type. Multiple file name extensions are assigned to the file type, but the Player only plays some of those extensions by default. To give the Player full ownership of a file type, double-click the dimmed check box.
File type Description
Windows Media Audio file (wma) Windows Media files with .wma and .wax extensions.
Windows Media Video file (wmv) Windows Media files with .wmv and .wvx extensions.
Windows Media file (asf) Windows Media files with .asf, .asx, .wpl, .wm, .wmx, .wmd, and .wmz extensions.
Microsoft Recorded TV Show Microsoft Recorded TV Show files with .dvr-ms extensions.
DVD Video DVD video files with .vob extensions.
Music CD Playback Audio CDs and files with .cda extensions.
MP3 audio file (mp3) Files with .mp3 and .m3u extensions.
Windows video file (avi) Files with .avi extensions.
Windows audio file (wav) Files with .wav extensions.
Movie file (mpeg) Files with .mpeg, .mpg, .mpe, .m1v, .mp2, .mpv2, .mp2v*, and .mpa extensions.
MIDI file (midi) Files with .mid, .midi, and .rmi extensions.
AIFF audio file (aiff) Files with .aif, .aifc, and .aiff extensions.
AU audio file (au) Files with .au and .snd extensions.
*To play .mp2v files, you must have a software or hardware DVD decoder installed on your computer.
Notes
Other multimedia playback programs on your computer may interfere with your Player file types settings or prevent you from specifying Windows Media Player as the default player for a selected file type. To override the file types settings and specify Windows Media Player as the default player for all of the file types in the list, use the Set Program Access and Defaults feature in Windows (click Start, point to All Programs, click Set Program Access and Defaults, and then choose the Custom configuration that specifies Windows Media Player as the default media player).
Clearing the check box next to a file type restores the file type association to the previous default player, if one was specified. If no default player was previously specifed and you try to play a file, a Windows dialog box will be displayed so that you can select the appropriate program to play the file.
Your AutoPlay settings may affect your Player file types settings. For more information about AutoPlay, see Windows Help.
The Player can play additional file types but cannot be set as the default player for them. For more information about all of the file types that Windows Media Player supports, see the Microsoft Web page.
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Other then that using quicktime as per messhalmans suggestion or vlc as per my above suggestion should work.
There is an alternative players to quicktime like quicktime alternative :
http://www.free-codecs.com/download/QuickTime_Alternative.htm