Created sphere in Unity project and now it seems the default UV / texture mapping scaling has changed? Texture set to 1 but in past same texture or video would match sphere but latest Unity seems to use only portion of texture.
As a test try the MoviePlayerSample. It now has an HD screen and shows only a portion of the default video image. They have a alternate screen that can show more but it seems to crop unless fully expanded.
Thank you for your answer. What I ended up doing was downgrading to Unity 4 and then everything worked smoothly, no need to change resolution and also works on other 360 movies with different resolutions.