Some time ago Google purchased a company called On2 and many expected Google to open-source the VP8 video codec that came bundled with the company. Sure enough, Google has announced its new format called WebM, a video format that Google claims is efficient enough to be played on low-powered devices like netbooks, tablets and handheld devices.
WebM is open-source and licensed royalty-free under a BSD-style license. Many big names have already shown their support for WebM, including Firefox, Opera, Adobe, AMD, ARM, Broadcom, Freescale, NVIDIA, Qualcomm and Texas Instruments. Mozilla in particular has also decided to include support for it in the Firefox nightly builds from today, like Chromium, while Opera says that support is also on the way.