The new version adds support for the H.264 video codec, also known as Mpeg4 part 10, as well as the HE-AAC audio codec.
The update also introduces support for multi-core processors as well as a full screen movie mode with hardware scaling and a cache for platform components such as the Flex network.
The addition of h.264 support allows for better video compression, which is expected to enable high-definition videos to be streamed over the web.
The codec is already supported in slew of applications, ranging from video services for mobile phones to the HD-DVD and Blu-ray high definition DVD standards.
The Moviestar beta will be available later today from Adobe Labs.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago