According to a report at NewTeeVee, inside sources have confirmed that Google will be open-sourcing the VP8 codec next month at the Google I/O conference. Mozilla and Google will also reportedly announce plans to implement support for VP8 in their respective browsers at that time. The move could have profound ramifications on the viability of standards-based video playback and the future of rich media on the Internet.
Google planning to open the VP8 video codec