Is a media container format designed for streaming over the Internet. Used on popular video hosting sites. Video is usually stored in h.263 and h.264 formats, audio is a in MP3 or other less popular codecs. FLV-file format is a bit stream, which provides high-quality image even at low bit rates.
This format was originally created as an alternative to mp3. The idea was to achieve a small file size with better sound quality. The first versions weren’t quite successful, but with the development of AAC, it became possible to store sound with less loss of quality, and with the same file sizes as that of mp3.