The goal of HTML5 is seen to minimize the use for plug-in based applications. One of the major features in HTML5 is that the new specifications pushes the boundaries that browsers have been confined to for many years.
This means that user interactions are not limited to just text, links, images and forms, HTML5 with video capabilities promotes multimedia with specific elements: <video> and <audio>.
There are some advantage to HTML5 video that benefits the end the user. The first being that the end user does not need to install a plug-in to play multimedia files. The second would involve user experience and interface design. Designers have the ability to build their own controls with the functionality of HTML, CSS and JavaScript.
If you like the idea of syncing content and video, check out the Popcorn framework, which is based on the same techniques but gives you much more control over the video itself. Popcorn.js is an event framework for HTML5 <video> that provides a simple API for synchronizing interactive and immersive content.
Popcorn.js utilizes the native HTMLVideoElement properties, methods and events, normalizes them into an easy to learn API, and provides a plug-in system for community contributed interactions.
For those looking for a more analytical breakdown Mike Chambers has put together a more technical analysis for HTML5 and Flash.
There are a number of great free tools available that will let you serve video through HTML5 that also has Flash support. The flash support portion is important in the event that a visitor’s browser does not support HTML5.
HTML 5 Video Players
1. JW Player for HTML5
Currently one of the most popular open source video solutions.
2. Video for Everybody
Embed's video using HTML5 and has Flash as a backup if the browser does not support HTML5. A key feature is that this video player does not use JavaScript out-of-the-box.
3. Open Standard Media Player
An all-in-one media player for the web. Licensed under the GPL v3 and is written in jQuery. Comes with HTML5 and Flash support. The OSM player can be customized using the ThemeRoller system.
