|After a long time a new FFmpeg version has been released. Today FFmpeg stands at v0.5 and is codenamed "half-way to world domination A.K.A. the belligerent blue bike shed" to give an idea where it stands in the grand scheme of things. In case you don't know what FFmpeg is and why this release is so important, read this.|
FFmpeg is the most widely used audio and video codec library. FFmpeg is what makes some open source multimedia apps (like MPlayer, Xine, VLC and Kdenlive) so versatile. It is the reason why all those open-source apps can play all kinds of video and audio files.