The best free alternative to Autoplay Media Studio is Compact AutoRunner. If that doesn't suit you, our users have ranked more than 10 alternatives to Autoplay Media Studio and three of them is free so hopefully you can find a suitable replacement. Other interesting free alternatives to Autoplay Media Studio are NSIS Autorun (Free, Open Source) and AutoplayMM (Free).
NSIS Autorun is a graphical CD/DVD/USB autorun (autoplay) engine that launches installers made with NSIS. Non-rectangular windows, animation, and sound are supported. Can be used with Windows 95/NT4 - 7(x86/x64).