There’s a lot of free software out there, but just like with Instant Messaging software you have to install many of them to be flexible.
Several years ago I stumbled upon the VideoLAN Client (aka VLC) when researching methods to stream video from my ReplayTV (Tivo predecessor/clone) to my laptop as the files were in MPEG4 format and my previous clients didn’t support it.
I urge you to check it out as it’s an all in one solution, so that you don’t need all of that other bloat-ware installed.
P.S. – I should add that this plays most video and audio formats and is available on most platforms, not just Windows.