Apple patented a new system for inserting media into an ongoing phonecall, enabling iPhone owners to share music, video, image, voicemail or podcasts during conversation. So, by using the application, you don't need to end your conversation and then email a multimedia file as an attachment.

Once shared, the media file could be controlled - ideal for those “listen to this bit, you’ll love it” moments - and the conversation could be continued while the media plays.  Alternatively Apple tips future video calling capabilities for the iPhone, with the system allowing for two concurrent video streams: one for the conversation, and one for shared video footage.

Another possibility is the introduction of an invitation system, whereby one user could invite another to join them in watching a video - such as a YouTube clip - or listen to a specific audio file.  Users who have had files shared with them would be able to control them from their own handset for as long as the share continues, skipping through their friend’s library.

[Apple Insider via SlashGear]