Google has just released its VP8 video codec it acquired a few days back as WebM. This acquisition came with the acquisition of On2, which was an expert in video compression technology.
As expected, the Chromium browser on Ubuntu now supports this new video codec. To try a WebM video, you will need to install the latest daily build from the Chromium daily build PPA at launchpad. The fastest rising Opera web browser also introduced support for WebM videos recently.
The added advantage in WebM videos, as spotted by d00d @OMG!Ubuntu is that the CPU usage for WebM decoding is minimal compared to Adobe Flash. This would make it ideal for mobile devices as well. He has also provided a link for you to try out some WebM videos on YouTube.
Now that a proper video converter is out with support for WebM videos, we expect to see this video format take over the world of online videos, in the next few months.