Error C00D11B1 with AxWindowsMediaPlayer when playing You Tube files converted with ClipConverter

I'm trying to play a short YouTube video clip in a Windows Form using an AxWindowsMediaPlayer control om Visual Studio 2012.   I have used a conversion program (ClipConverter.cc) to convert the clip into a .wmv format.  This will play without a problem in the Windows Media Player on my desktop.  However, once I load the converted clip into the appropriate form/AxWindowsMediaPlayer, I get an error message (C00D11B1) and cannot play the file.  I wonder if this has anything to do with the DRM or perhaps I need to use a different conversion program.  Any ideas/work arounds?

Thanks.