The WMV (Windows Media Video) format is a proprietary video compression format developed by Microsoft. It is commonly used for streaming and storing video content on Windows platforms. WMV files support various codecs, including Windows Media Video 7, 8, 9, and VC-1, offering a range of compression options for different quality levels. While WMV was once a prevalent format for Windows Media Player, its usage has declined in recent years in favor of more universally supported formats like MP4 and MKV.