Replace it with VLC:
http://www.videolan.org/vlc/
It's free & works v. nicely.
"VLC media player is a highly portable multimedia player supporting most audio and video formats (H.264, Ogg, DivX, MKV, TS, MPEG-2, mp3, MPEG-4, aac, ...) from files, physical media (DVDs, VCD...