Recently, Google announced the release of an open-source video codec called WebM, which should finally solve the many problems with the video on the Internet. Then there was some friction over the licenses that eventually Google decided to remove slightly modifying codec. Google has resolved the licensing issue and has already added support for WebM to a beta version of Chrome.
Apparently, following the Chrome, Mozilla is implemented these codec in the next build Firefox 4. The WebM video format is based on the VP8 video codec, which was acquired by Google in 2009 and is a purportedly royalty-free alternative to H.264 for HTML5 video.
Very good and i am in need of video codec.
Thanks.