QuickTimePlayer.exe - Application Error

I have a Toshiba Qosmio G32 with XP MCE. I have just installed the QuickTimePlayer (Basic). However whenever I click on the QuickTimePlayer Desktop icon/menu I get the message "The application failed to initialize properly (0x0000005). Click on OK to terminbate the application." I have tried un-installing QuickTimePlayer and then re-installing, but the same thing happens. If I can't get this to work then I do nmot want to waste monety upgrading to the Pro version. Please can someone suggest what might be going wrong. Thank you.