Flash 8 poised to take on Web video

I have been saying that the key to Web video is Flash for quite sometime now. And it seems that my feelings on the matter may have been pretty close to accurate.

Macromedia plans to unveil its Flash 8 software early next month with an emphasis on video capabilities that some think could up-end the Web video market.

Macromedia is expected to announce the latest version of its signature Flash software Aug. 8, or 8/8, and release the software a few weeks later, said a source familiar with the company’s plans. Macromedia, whose shareholders will vote on a proposed acquisition by Adobe Systems on Aug. 24, released the Flash 8 public beta, a test version, earlier this month.

Flash, originally a Web site animation tool, has emerged as a potentially formidable competitor in the race to build powerful Web-based applications. Macromedia has officially re-designated it as a platform for application development. [Read the rest]