How to: Samsung Gear VR - 360 video - movie texture

I have been researching and trying to figure out how to play movie texture on this platform specifically “Samsung Gear VR”. Many paid plugins are not compatible, and the native android player support offered by Oculus SDK suggest a quad texture with a resolution of 960 x 540 pixels.
Frame sequence does work well with good quality and performance although disk space becomes a big issue with that approach.
Does anyone figure out how to make it work with movie texture? If possible at high resolution as well.