What's the significance of "open source" media frameworks?

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I was going through OSMF (Open Source Media Framework). I wonder why it's called open-source. Are the videos that I create via flash IDE are not free? Can't I publish them without paying? Are the videos on youtube paid videos? Or am I confusing something here?

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Jason Sturges On BEST ANSWER

Open Source Media Framework (OSMF) is an open software framework for building robust, feature rich video players and applications based on the Adobe® Flash® Platform. OSMF has two key objectives:

  1. Simplifying player development by enabling content providers to focus on the user experience, rather than player plumbing. OSMF reduces the complexity of player development, allowing the developer more time to focus on the overall user experience. OSMF's flexible architecture allows the developer to easily customize their player for all three screens (desktop, mobile, and TV), incorporating plug-ins for advertising, reporting and content delivery along with standard player features such as playback controls, video navigation, buffering, and Dynamic Streaming.

  2. Simplifying 3rd party development, by enabling ecosystem partners to focus delivering best-in-class services, instead of player integration. OSMF simplifies integrations with third party solutions and services by allowing developers to integrate plug-ins from partners in the Adobe Flash Platform ecosystem. Anyone can develop plug-ins that integrate with OSMF media players and enable custom features and new functionality, like advertising or reporting. Plug-ins can be compiled into the OSMF-based SWF or loaded dynamically, allowing plug-in providers to perform immediate upgrades and versioning.

Reference:
http://sourceforge.net/adobe/osmf/home/Home/

Download:
http://sourceforge.net/projects/osmf.adobe/files/latest/download

SVN:
http://sourceforge.net/adobe/osmf/svn/2081/tree/
http://svn.code.sf.net/adobe/osmf/svn/trunk

It is open source, as in a philosophy or pragmatic methodology that promotes free redistribution and access to an end product's design and implementation details; a software whose source code is published and made available to the public, enabling anyone to copy, modify and redistribute the source code without paying royalties or fees.