Adobe Announces Dynamic Streaming and Open Source Media Framework
HTTP Dynamic Streaming allows developers to "use of existing network infrastructures and standard web server hardware to deliver rich media experiences on a massive scale." It supports all of the high-quality media codecs that are currently supported by the Flash Platform, including support for H.264 and VP6 video codecs.
The Open Source Media Framework (OSMF) was started over a year ago to streamline the development process, allowing developers to assemble pluggable components, and with them, to create a high-quality, full-featured multimedia experience for the end user. Adobe is hoping to establish an industry standard for media players, while encouraging collaborative development focused on web video.