Getting this issue(ERROR: m3u8) while downloading hotstar videos, ERROR: m3u8 download detected but ffmpeg or avconv could not be found. Please install one.

[merajagarg]

[debug] System config: []
[debug] User config: []
[debug] Command-line args: [u'--verbose', u'http://www.hotstar.com/tv/may-i-come-in-madam/0/sajans-boss-fantasies/1000091348']
[debug] Encodings: locale cp1252, fs mbcs, out cp437, pref cp1252
[debug] youtube-dl version 2016.05.21.2
[debug] Python version 2.7.10 - Windows-8-6.2.9200
[debug] exe versions: none
[debug] Proxy map: {}
[HotStar] 1000091348: Downloading JSON metadata
[HotStar] 1000091348: Downloading TABLET JSON metadata
[HotStar] 1000091348: Downloading m3u8 information
[debug] Invoking downloader on u'https://staragvod2-vh.akamaihd.net/i/videos/lifeok/micims/01/1000091348_,16,180,400,800,1300,2000,_STAR.mp4.csmil/index_5_av.m3u
8?null=0&id=AgB6p9c5FwNGBLbqSlcC3furWbmvfn%2f3FDXeF+iDl9dkIs%2fJhUYneohHJ8hL3cyTq7sPWcoXhXR8Uw%3d%3d'
[download] Destination: Sajan's Boss Fantasies-1000091348.mp4
ERROR: m3u8 download detected but ffmpeg or avconv could not be found. Please install one.
File "main.py", line 19, in
File "youtube_dl__init__.pyo", line 421, in main
File "youtube_dl__init__.pyo", line 411, in _real_main
File "youtube_dl\YoutubeDL.pyo", line 1736, in download
File "youtube_dl\YoutubeDL.pyo", line 687, in extract_info
File "youtube_dl\YoutubeDL.pyo", line 733, in process_ie_result
File "youtube_dl\YoutubeDL.pyo", line 1382, in process_video_result
File "youtube_dl\YoutubeDL.pyo", line 1644, in process_info
File "youtube_dl\YoutubeDL.pyo", line 1586, in dl
File "youtube_dl\downloader\common.pyo", line 350, in download
File "youtube_dl\downloader\external.pyo", line 28, in real_download
File "youtube_dl\downloader\external.pyo", line 179, in _call_downloader
File "youtube_dl\downloader\common.pyo", line 161, in report_error
File "youtube_dl\YoutubeDL.pyo", line 550, in report_error
File "youtube_dl\YoutubeDL.pyo", line 512, in trouble

[yan12125]

As the title said, you have to install ffmpeg or avconv. Note that in this case avconv is broken.