No. This is a limitation of the video codecs supported by browsers: mp4, ogv, and webm do not currently support alpha channels.
There are workarounds, but they require re-rendering the video using Canvas, and this is a kind of hack. seeThru is one example. It works great on HTML5 desktop browsers (even IE9), but it doesn't seem to work very well on mobile devices. I could not get it to work on Chrome for Android. It worked on Firefox for Android, but with a pretty lousy frame rate. I think you might be out of luck with your mobile phone, although I would like you to be proven wrong.
nullability Mar 12 '13 at 19:08 2013-03-12 19:08
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