http://www.webmproject.org/
Google has released the On2 VP8 video codec as open source (royalty free, BSD-style), while also launching the WebM container format which combines a VP8 video stream with Vorbis audio. Support for WebM has been enabled on YouTube's HTML5 beta, and you can download patches against ffmpeg as well as DirectShow filters for Windows (Gstreamer plugins are labelled as "coming soon"). Mac users are out of luck for now; no QuickTime plugins have been announced yet. Update: The WebM blog is now open - and the list of partners is pretty decent already. It includes ARM, NVIDIA, AMD, Qualcomm, and many others. Update II: VP8 will be baked into Flash. Update III: The Opera labs version with WebM support has been released too, for Linux, Mac, and Windows. The news hasn't been officially announced yet, but the WebM project's website has been launched today, coinciding with the Google I/O conference. As you would expect, both Mozilla and Opera are part of the WebM project, meaning that Opera, Chrome, and Firefox will soon suppor the format out of the box. You can already get your hands on Firefox and Chrome developer snapshots which support it, while an Opera beta is on the way. ( above source is from http://www.osnews.com/story/23322/BREAKING_Google_Opens_VP8_Codec_Enables_it_on_YouTube)
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