Unable to upload Media files

I am new to this so please forgive me. I keep receiving errors when I attempt to upload media files. My site will not have many however I should be able to upload. I have called hostgator however was unable to obtain assistance from that end. Hoping to resolve here. Thanks!

Fatal error: Out of memory (allocated 68681728) (tried to allocate 5184 bytes) in /home/…media.php on line 258