Recent minor updates for WordPress introduced a couple of regressions when uploading audio and video files:
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On WordPress 4.3.x and earlier branches, audio/video files cannot be uploaded at all due to a fatal error.
Full list of affected versions: 3.7.19, 3.8.19, 3.9.17, 4.0.16, 4.1.16, 4.2.13, 4.3.9.
This will be fixed in the next minor update, see the Trac ticket #40085.
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On WordPress 4.4.x and later branches, audio/video files are uploaded with corrupted thumbnails.
Full list of affected versions: 4.4.8, 4.5.7, 4.6.4, 4.7.3.
This will be fixed in the next minor update, see the Trac ticket #40075.
In the meantime, this plugin is a workaround that solves both issues and restores the upload functionality for audio and video files.
Don't forget to remove the plugin once the next minor WordPress update is available!