"There's been a lot of discussion lately about whether or not the HTML5 tag is going to replace Flash Player for video distribution on the web. We’ve been excited about the HTML5 effort and tag for quite a while now, and most YouTube videos can now be played via our HTML5 player. This work has shown us that, while the tag is a big step forward for open standards, the Adobe Flash Platform will continue to play a critical role in video distribution."
YouTube API Blog: Flash and the HTML5 <video> tag
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