Nowadays the most talked thing in media and entertainment industry is Streaming. Its very simple idea but very very useful as a user point of view. The basic idea is to send small packets of data (video, audio, data) in a contiguous manner at the client end. I myself is working on a streaming project and believe me, its exciting. The only problem is that it needs a dedicated streaming server, which is very costly in current date. There are several vendors who provide streaming services, e.g. Microsoft's Window Media player, Apple's QuickTime Player, Macromedia's Flash Player, etc.
But the most powerful and most widely used is Flash Player. Its because it is already available in more than98% PCs of the world and also it just needs a plugin in browser window to enable it playing. The quality and the smoothness of video is also very good as compared to others. It needs Macromedia Media Server (previously Communication Server) as a streaming server.
Just go to any news channel's site, they are currently using Flash to fulfill their needs of displaying video online. Be it BBC, NBC, Indiatimes, CNBC .. everybody is keen in getting a Flash Player for their website.