The Video class enables you to display live streaming video in an application without embedding it in your SWF file. You can capture and play live video using the Camera.getCamera() method. You can also use the Video class to play back FLV files over HTTP or from the local file system. There are several different ways to use Video in your projects:
Even though the Video class is in the flash.media package, it inherits from the flash.display.DisplayObject class, therefore all display object functionality (such as matrix transformations and filters) also applies to Video instances.
For more information see Manipulating display objects, Working with geometry, and Filtering display objects.