The HTML5 specification allows you to use any video format. The browser implementation determines which formats are actually supported.
MP4 container with H.264 video and AAC audio
MP4 / H.264 is supported by Safari and IE9 +. You can find support in some versions of Chrome.
WebM container with VP8 and Vorbis Audio videos
WebM / VP8 is supported by Firefox, Chrome and Opera.
Ogg container with Theora Video and Vorbis Audio
Ogg / Theora is supported by Firefox, Chrome, and Opera.
Bottom-line
Use more than one format to make sure your client does not see a blank frame.
Regarding content protection, I underestimate this knowledge a bit and also believe that after this problem it makes no sense to go when your user may have a slow connection
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