Tha lazy way to do this:
(Works for Cycles and Blender Render)
Press CtrlAltU to open the User Preferences and press on the Addons Tab.
Enable the "Import Images as Planes" addon
In the 3D view press ShiftA and find Mesh->Images As Planes
Select the video you need. (Note that there are some options on the left for the texturing of the plane).
A plane will be created with the proportions of the imported video, UV unwrapped and already textured with the chosen image.
All that is left to do is enable Auto Refresh on the texture nodes so the video updates as you scroll down the time line.
NOTE: The texture on the Plane will be visible only when the shading in the 3D viewport is set to Textured, Material and Rendered.