HTML5 is changing the look of Web video, but can it edge out Flash? At the end of August, the band Arcade Fire launched an online experiment with Google that allowed fans to build a personalized music video to accompany the new song “We Used to Wait.” But the video was more than a normal video: it was a collection of video windows within the Web browser that provided, among other images, aerial and street-level footage of any address a user provided (via Google Maps).

See the article here:
The Next Stage of Online Video Evolution