In recent years, the ubiquity of multimedia services along with the proliferation of mobile devices and the demand for new audio and video applications are changing the life style of users. User demands for multimedia access anywhere, anytime from any device are creating new challenges for research communities from both academia and industry. It is expected that video-based services alone will account for 50 percent of all consumer network traffic in 2012 and we will continue to witness the explosive growth in users sharing multimedia content over the Internet. In this context, new network, application, and user-based approaches must be created to deal with such complex multimedia systems. This paper presents some of the recent advances in multimedia networking focusing primarily on areas that have been receiving attention recently and are expected to continue to generate further interests in coming years. These areas include Quality of Experience (QoE) and various related standardization issues, Content Distribution Networks (CDNs), multimedia communications, mobile Multimedia. This paper also briefly highlights some of the major challenges that still need to be addressed to enable the support and delivery of multimedia services anywhere, anytime over highly heterogeneous infrastructures and user terminal devices.