http://opus-codec.org/
Support is already in the current build of Firefox, amongst other apps. Sounds promising.
- Bit-rates from 6 kb/s to 510 kb/s
- Sampling rates from 8 kHz (narrowband) to 48 kHz (fullband)
- Frame sizes from 2.5 ms to 60 ms
- Support for both constant bit-rate (CBR) and variable bit-rate (VBR)
- Audio bandwidth from narrowband to full-band
- Support for speech and music
- Support for mono and stereo
- Support for up to 255 channels (multistream frames)
- Dynamically adjustable bitrate, audio bandwidth, and frame size
- Good loss robustness and packet loss concealment (PLC)
- Floating point and fixed-point implementation
In a similar vein to OGG but seems a bit more versatile, maybe it'll catch on more.

