free and open-source software library
It’s not enough.
H.264 is protected by patents owned by various parties. A license covering most (but not all) patents essential to H.264 is administered by a patent pool administered by MPEG LA.
The commercial use of patented H.264 technologies requires the payment of royalties to MPEG LA and other patent owners. MPEG LA has allowed the free use of H.264 technologies for streaming Internet video that is free to end users, and Cisco Systems pays royalties to MPEG LA on behalf of the users of binaries for its open source H.264 encoder.