VS 2010, .NET Framework 4.0

I am using directx sdk to display an .avi and over this I need to display an backgroundless image (a number between 0 and 9). The effect would be the movie playing behind the numbers.

I tried using pictureBox, but VS just adds a white background no matter what I do (the image has a transparent background, I tried setting the pictureBox background color to transparent). Maybe pictureBox is just not the way... is there any way to do this?