“Very specifically, there’s no royalty-free codec for video. This is nothing that standards bodies can solve. The most promising is that Sun Microsystems is developing an open codec and spending money to make sure they’re not infringing on patents.”
Also, “open video codec” topped the panelists’ biggest-thing lists:
“After each panelist talked, John asked them questions about what’s the biggest thing they’d like to see implemented by everyone (open video codec, geo location api were the winners).”
The whole write-up is worth reading here.