"The WebM project - a VP8 video stream and a Vorbis audio stream wrapped in a Matroska container re-branded as a WebM container - launched by Google, openly supported by every major chip maker, is going to be the major codec for Google's Chrome web browser. Yes, Google is dropping H264 support from the Chrome web browser."

http://www.osnews.com/story/24243/Google_To_Drop_H264_Support_from_Chrome

Come, gather around, and watch how a standard is being formed...