Great news from the Flash team: the latest version of the Flash Player (available now in beta form) will support the H.264 video codec, paving the way for hardware-accelerated, full-screen high-definition movies on the Web. Adobe platform evangelist Ryan Stewart hits the highlights:
Does the addition of H.264 mean Flash Player will support HD?
Yes, Flash Player supports 480p, 720p and 1080p content encoded with either On2 or H.264. Performance will vary depending on the capabilities and configuration of your machine. In general a 2.0 GHz Mac or a 3GHz PC, with one or more processors, will deliver an optimum experience.
Will Flash Player 9 Update 3 support non-FLV files?
Yes, with this update, Flash Player will also support MPEG-4 standard container files […]
So basically you can play full, hardware-accelerated 1080p Quicktime videos inside of the updated Flash Player. Welcome to the next generation of web video.
Indeed. I knew these changes were in the works, but I really didn’t expect them to arrive so quickly. Flash Player engineer Tinic Uro has the details, while Aral Balkan has a full FAQ. All in all, this is a great step forward for Flash developers, Flash video-creating apps (including Photoshop Extended), and Flash video watchers (y’know–just about everyone ever ;-)).