I know PS2 doesn't play any type of CD's that are not music or retail game. But I do know that you can get it moded and find a program that allows you to play them which you might find at
http://www.consolevision.com but the main reason I didn't get my ps2 moded because there is not no-solder no-swamp ones and also ps2 doesn't have many good freeware software(aka emulators, utilities, and homebrewed games). Also if you don't want to get your ps2 moded you can look at
http://www.broadq.com/ its not free and it's kind of stupid since you have to run your movies though a Cat 5 cable(LAN cable). But instead I would recommend just getting a cheap DVD-player that can do, and will be just the same money and less time.