The new version adds support for the H.264 video codec, also known as Mpeg4 part 10, as well as the HE-AAC audio codec.
The update also introduces support for multi-core processors as well as a full screen movie mode with hardware scaling and a cache for platform components such as the Flex network.
The addition of h.264 support allows for better video compression, which is expected to enable high-definition videos to be streamed over the web.
The codec is already supported in slew of applications, ranging from video services for mobile phones to the HD-DVD and Blu-ray high definition DVD standards.
The Moviestar beta will be available later today from Adobe Labs.
Adobe, Moviestar, Beta, Applications