The OGV (Ogg Video) format is a free and open multimedia container format that typically encapsulates video content using the Theora video codec and audio content using the Vorbis audio codec. Developed as part of the Ogg project, OGV files are known for their open standards and efficient compression. OGV is commonly used for delivering video content on the web, providing a balance between file size and visual quality while maintaining compatibility with various browsers and platforms that support Ogg-based formats.