The best replacement for vp8 is theora.

The best alternatives to vp8 are rated as following:
★★★★★  theora
★★★★★  vp9
★★★★  h 264
★★★★  x264
★★★  h.264
★★  h 265
★★  hevc
★  vp6
★  h264

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Google Trends

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vp8
theora
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