MC525664 – Microsoft is renaming file viewer webpart to ‘File and Media’ to make this webpart inclusive of more file types like videos.
When this will happen:
Standard Release: Microsoft will begin rolling out in mid-March and expect to complete rollout by mid-April 2023.
How this will affect your organization:
Users will see the new name for the webpart. Functionally, nothing changes w.r.t. the capabilities of the webpart. This is a step to educate users about the capabilities of the webpart beyond Word, Excel, PowerPoint, PDF and extended to videos as well.