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RipCode is a new video transcoding service that introduces a new way to reformat video content in a faster, more efficient manner. It's debuting its service today, and announcing a very big client--MySpace.
The transcoding service operates by providing a device that transcodes videos on demand. This reduces the need for video content to be transcoded into several different formats at once, and then stored in each of these formats to allow different consumers to access videos across networks and devices, including mobile phones. So depending on the device, screen size and other parameters that need to be taken into consideration, RipCode saves server space and time by dynamically transcoding the video when, where and how the end user needs it, and makes for an easier upload process as the content won't need to be transcoded at this time either.