From LL today:
"...today’s release of the LLMedia API, which lets developers create plug-ins for the Second Life Viewer to bring new media-rendering capability to Second Life.
Currently, Residents who own land have the ability to specify a select set of media types to be used on their parcel through the Land Management settings. This allows Residents to do interesting things like watch videos, show Web pages to visitors, or just add ambiance to inworld spaces with streaming music. However, the types of media that could be used inworld has been limited to only those that could be rendered by the set of media rendering engines embedded in the Second Life Viewer, such as Apple QuickTime™ movies.
The LLMedia API will change this by enabling developers to create media rendering plug-ins for the Second Life Viewer. In the future, by installing these plug-ins, you’ll be able to enjoy a wider range of media inworld, without having to download new Viewers to do so. For example, when a plug-in is developed for rendering an additional video format, you’ll be able to view media in that format inworld after downloading and installing that plug-in, without having to wait for a new version of the Second Life Viewer that includes this rendering engine.
To get there, it’s going to take some time, of course, but releasing the LLMedia API today, along with a special Development Release of the Second Life Viewer, is an important step forward.
Developers interested in getting more information on the LLMedia API, building media rendering plug-ins, and downloading the Second Life Viewer code should check out the Media Rendering Plugin Framework wiki page."