For anyone else having this issue, @ewpatton and team looked into this and found the issue 
The version of Android that comes with the Emulator only supports the baseline h264 codec. The video files we were using were exported using an h264 high profile. This was causing errors with loading in the Emulator only but worked in a live device since that has a newer version of Android that does support high h264 videos. We are re-exporting the videos using the baseline profile instead to make this work.