In the world of online video, there is a battle brewing over the next dominant standard for online video, especially on HTML5 Web pages. Today, Google took the gloves off and declared that it will soon stop supporting the H.264 video codec in its Chrome browser. Instead, it will only support open-source technologies such as its own WebM initiative (with its VP8 codec) and the open-source Theora video codec, which is used by Firefox.
http://techcrunch.com/2011/01/11/google-chrome-browser-h-264-video/