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 is free, which apparently is one of the reasons for its popularity. The used codecs supports variable bit rates (as a default), and .ogg files usually play back easily on all platforms. All things being equal, the sound quality exceeds that of mp3 somewhat.