If this is has already been covered on the forums, then I apologize for reposting. I, like many other players, have had to disable the videos for KOTOR 1 in order to get it to run on Windows 8.1. If you go on YouTube, you can visit or subscribe to the page of user "Fusion196". This user has uploaded every video for KOTOR in chronological order within the game. While it is not good as having the videos work for the game, it is still better than nothing.

Direct link:
https://www.youtube.com/watch?v=YFaipyRhJg0&list=PLDB555BCF0F068110

I should have added the link also. Thanks rmeakins for adding it. :)