received this same error yesterday & solved the problem today.

The reason was an incomplete upgrade to Real Player. When I uninstalled & reinstalled the program, the error disappeared.
If you starting getting this error after attempting to install a new application or upgrade an existing one, try the following:
(1) Uninstall the application from Control Panel / Add or Remove Progams.
(2) If unable to do so from there, find the folders related to the application (do a search or check the Program Files folder) using Windows Explorer, and delete them.
(3) Reinstall the application. Make sure no other applications are running during the install. Check for a confirmation message that the program was installed successfully.
(4) Reboot computer.
(5) Attempt to reopen application. Hopefully error statement will disappear.
Another potential fix is to search the Internet for "MSVCR71.dll". You will find Websites that allow you to download this file for free. Hope this helps you & other users who may encounter this problem. Good luck.