Yes, HTML5 has largely replaced Flash as the preferred technology for multimedia content on the web. HTML5 introduced native support for audio and video elements, enabling developers to embed multimedia content directly into web pages without the need for third-party plugins like Flash. This shift towards HTML5 was driven by several factors, including the increasing popularity of mobile devices that do not support Flash, security vulnerabilities associated with Flash, and the desire for open standards and cross-platform compatibility. Major web browsers have also phased out or limited support for Flash. As a result, HTML5 has become the go-to solution for delivering multimedia content on the web, offering better performance, accessibility, and compatibility across devices and platforms.