Hola prueba con este codigo:
<OBJECT id="mediaPlayer" width="400" height="300" classid="CLSID:22d6f312-b0f6-11d0-94ab-0080c74c7e95" codebase="http://activex.microsoft.com/activex/controls/mplayer/en/nsmp2inf.cab#Version=5,1,52,701" standby="Loading Microsoft Windows Media Player components..." type="application/x-oleobject"> <param name="fileName" value="mms://subdominio.com/puntodepublicacion"> <param name="animationatStart" value="true"> <param name="transparentatStart" value="true"> <param name="autoStart" value="true"> <param name="showControls" value="true"> <param name="loop" value="true"> <EMBED type="application/x-mplayer2" pluginspage="http://microsoft.com/windows/mediaplayer/en/download/" id="mediaPlayer" name="mediaPlayer" displaysize="4" autosize="-1" bgcolor="darkblue" showcontrols="true" showtracker="-1" showdisplay="0" showstatusbar="-1" videoborder3d="-1" width="400" height="300" src="mms://subdominio.com/puntodepublicacion" autostart="true" designtimesp="5311" loop="true"> </EMBED></OBJECT>
Saludos.