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VidPlayMTC is a simple and efficient application for playing video synchronised to MIDI Time Code (MTC). It uses FFmpeg, which is an Open Source library of tools for working with video and audio data in multiple formats. The application runs in Microsoft Windows and is able to open and play video files in any format supported by FFmpeg.
If you have a video file formatted with any freely licensed codec, then VidPlayMTC will probably be able to open and play it: