The Alliance’s initial focus is to deliver a next-generation video format that is:
Interoperable and open;
Optimized for the web;
Scalable to any modern device at any bandwidth;
Designed with a low computational footprint and optimized for hardware;
Capable of consistent, highest-quality, real-time video delivery; and
Flexible for both commercial and non-commercial content, including user-generated content.
Microsoft and Mozilla are also part of it. So there might be some future of WebM!
Alliance for Open Media
Alliance for Open Media - Alliance for Open Media Established to Deliver Next-Generation Open Media Formats