If you are using a VM (virtual machine) you have to select the correct video adapter in the VM settings. By default, the built-in video adapter is selected. This is a common problem for those running QSP games in a VM.
Make sure your OS is up-to-date and fully patched.
I compiled a folder of all the major Visual C++ redistributables and other updates that should allow the QSP player to show images and videos.
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The two best QSP players currently are the Infinity QSP player by Infinite and QQSP . If you are having difficulties with the QSP Player and videos, the Infinity player is the best choice.