The nVidia WDM Video Capture (universal) service failed to start

Every time after booting up get the error message saying that one of the
servies could not start.
All the drivers seem to be installed but in control panel nVidia WDM still
has exclamation point next to it..
Reinstalling drivers for it didn't help. Disabling it didn't help as i still
get the error message. Goolging for the
answer provided no help either.

Here what even viewer reports:
Event Type: Error
Event Source: Service Control Manager
Event Category: None
Event ID: 7000
Date: 12/28/2003
Time: 5:11:35 PM
Description:
The nVidia WDM Video Capture (universal) service failed to start due to the
following error:
The service cannot be started, either because it is disabled or because it
has no enabled devices associated with it.