It's no secret that Google is a fan of open standards, and in particular, open video. The HTML5 beta currently in full swing on YouTube is evidence enough of this trend, but at least up until now, all the video being delivered has been in patent encumbered H.264. Given the commitment made to the standard it seemed pretty clear cut that they would be the codec winners in the Google camp, but in a rather interesting turn of events, the search giant has decided to dump a ton of cash into TheorARM, a competitor to H.264 aimed at mobile platforms.
Just in case we lost you, HTML5 delivers on its promise to offer up open standards for Web video, but browser vendors have so far been unable to reach a consensus on what underlying codec should be used. Ogg Theora is a royalty free option favored by most, but when it comes to sheer compression power, H.264 has it beat hands down. Compression is likely the reason for H.264's popularity given the massive bandwidth bills for streaming internet video, but clearly Google doesn't want to be seen as picking sides.
By supporting TheorARM Google is making a significant contribution to open video, and might eventually make it possible for Theora to gain broader support on the mobile web. According to Google's Robin Watts, "We need a baseline to work from-one standard format that (if all else fails) everything can fall back to". This hardly sounds like a ringing endorsement of the technology, but I'm sure the Theora won't turn down the support or big bag of cash.