From the team over at DownloadSquad.com:
Adobe has launched a much anticipated update to its Flash video player. Adobe Flash Player 184.108.40.206 includes support for the H.264 codec. The upshot is that web publishers can easily embed HD videos on their site.
By way of background, MPEG2 and MPEG4 are the video codecs that support digital TV in North America and Europe. The broadcast and cable TV industries are broadly deployed with MPEG2 today and are rapidly moving top MPEG4 h.264 for its much better bitrate efficiency and higher qualities.
The telcos doing IPTV over DSL are using MPEG4 to get those high def streams down their skinny DSL lines. On the professional front, I am in the midst of deploying TV over fibre using MPEG2 today but MPEG2/4 capable boxes. We will move to MPEG4 in the future when the real-time encoders come down in price.
Expect to see a lot more h.264, and expect the ability to play it back smoothly to be crucial to the on-going success of Zonbu products.
More here: http://www.downloadsquad.com/2007/12/04/adobe-releases-flash-player-with-h-264-support/