While the open source codec “Theora” has been available since 2004 in a stable format, the open source community is very careful about giving any piece of software the “1.0” stamp of quality and libtheora has been put under scrutiny for years.
Today, libtheora 1.0 was finally released – rejoice and go ahead using it in production!
More hard-core improvements to libtheora are also in the pipeline under a version nick-named “Thusnelda”, improving mostly on quality and bit-rate.