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Movie Textures Horribly Laggy & Compressed - Help!

First off,
They play! However they take a huge hit on the FPS like… from 100 down to 20-30. They’re only 7mb WMV files and a 7mb MP4 with mpeg encoding (to test). It’s a top bottom stereoscopicvideo been split and porjected onto a sphere to work with the rift. Works perfectly etc. However it’s laggy as balls!

Here is the material setup:

Ignore the first row of texture samples they were stills for my testing.

Its projected onto a sphere and camera dead center. Nothing else in the scene!

Any help would be great or any recommended codecs, its crucial to my project!

Anyhelp would be great,
Thanks