.wmv is a Windows Movie Video (or something). As far as I know only Windows computers are able to open it. Your best bet is to slam dunk it on a PC and grab some conversion software. I believe .avi (Audio Visual Interleave) works on the PlayBook.
It's not quite that simple. I have two full length feature movies that I converted from DVD to wmv and they play just fine. I have another wmv video that I converted from another format and the PB tells me it's an unsupported format.
Obviously the PB supports wmv files but I suspect there is some meta data that has to be in just the right form.