WMV, or Windows Media Video, is a video file format developed by Microsoft. It is designed for streaming and storing video content, often used in conjunction with the Windows Media Player. WMV files are known for their efficient compression, allowing for smaller file sizes while maintaining decent video quality. This format is commonly used for online video streaming and can be played on various devices, including computers and some media players. However, compatibility may vary, as not all devices support WMV files natively, which sometimes necessitates the use of conversion software or additional codecs.