Google just announced their new video format and called it the WebM. If you would remember, Google bought a company called On2 which owned the VP8 video codec. The new WebM could be their lovechild .

The WebM is a new web video format that can be played on handheld gadgets, tablets, and netbooks. The format is said to be low-powered so playing it would be easier and faster.

As described, WebM is “open-source and licensed royalty-free under a BSD-style license” according to SlipperyBrick. At present, the web video format is already being supported by Texas Instruments, Qualcomm, NVIDIA, Freescale, Broadcom, ARM, AMD, Opera, Adobe, and Firefox.

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