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Multimedia applications have played an increasingly important role in entertainment, security, remote sensing, monitoring and other civil and military applications. The traditional approach to multimedia acquisition, communication and consumption chain starts with high resolution content acquisition, followed by content processing, image and video compression and then delivery over wireless and wired line networks. After decades of theory, technology and product developments, the traditional paradigm has approached the limits established by a number of physical barriers. In this talk, we review a few critical issues when applying compressive sensing theory to multimedia applications and propose, on a high level, some preliminary potential solutions.