I want to create a sort of starfield using videos, so to start my experiments with animating video containers I thought I'd do this simple test:

video animation experiment

It just rotates a playing video that bounces around, but one could add animated scaling as well very easily. I'm surprised at the speed actually, we could reduce a bit of overhead by drawing directly to the background instead of an intermediate BitmapData instance (although the current method would allow filters etc. to be applied in addition to transformations before copying the whole lot to the main background BitmapData).