Although there are several enhancements that allow for sharing rich media on SharePoint 2010, I will focus on the Media Field Control, which is also used on the Media WebPart that allows for sharing media in an ad hoc manner.
The Business Scenario – Creating a custom Publishing Page Layout and using the Media Field Control
So, if we have the Media WebPart, why use the Media Field Control?  Great question!  Here is one scenario, let’s say you are looking to create a Publishing Page Layout for a Press Release on your SharePoint Site.  This Publishing Page Layout needs to support the ability for users to insert a video and enrich user experience.

This session will not go into details on creating a Publishing Page Layout
Media Field Control - Out of the Box Capabilities
• It plays videos from within SharePoint or remote locations
• It is built on Silverlight 3.0 or higher
• You can skin it to change the appearance using Expression Blend 3, since the skin is a XAML file
It is extensible via the JavaScript Object Model, you can play, pause, change properties, etc.