ASF is a media file format developed by Microsoft. This format is preferred for Windows Media. This player can play not only video or audio files, but also mixed recordings that are compressed using certain codecs and saved in an ASF file. Files of this format also additionally store metadata (including title, author, copyright information). The full original name of the format is Advanced Systems Format. The main goal of Microsoft in developing this format was to provide streaming media playback.
FLV is a video file format developed by Adobe Systems. The name is an abbreviation of the full name Flash Video File. FLV format video files are Flash-compatible and usually contain various metadata (titles, audio, video, etc.). FLV-files are widely spread on the global network, in this format they make streaming video for YouTube, MySpace and other video hosting sites. Compared with similar formats, video files have a higher compression ratio. FLV files are easily converted to more common video formats.