Competition for MPEG-4
With the joint project 'Theora' by On2 Technologies and the Xiph.org Foundation, the two partners want to develop an open source multimedia package that is intended to be a direct, free alternative to MPEG-4.
The whole package consists of several components. That would be a server, a player and a personal video recorder. The video codec called 'VP3' is supplied by On2 Technologies, Xiph contributes experience from the open source area, especially from those with Ogg Vorbis. They want to bring an alpha version onto the market as soon as possible, but both expect completion in about a year.