"Google supports many free software projects, including the
Videocodec OGG Theora. The Google browser Chrome is intended to
also play videos in free OGG Theora Codec (thanks to HTML 5), in
addition to H.264 coded videos. Google would also like to use the
capabilities of HTML 5 for its video portal Youtube. In this case,
H.264 should also be put to use. According to Chris DiBona, OGG
Theora would use too much bandwidth to achieve a quality level
consistent with the current state.
""If [YouTube] were to switch to theora and maintain even a
semblance of the current youtube quality it would take up most
available bandwidth across the internet.""