The UVD block responsible for video decoding has gotten an important upgrade: it can now accelerate the decoding of H.265/HEVC-encoded video in hardware, which is crucial for 4K video in particular. This hardware can also decode Google's VP8 format, but AMD says it's still investigating the software side of that equation. Full acceleration of the latest video formats gives Fiji a leg up on its competition.
That advantage comes with a downside, though. The display outputs in this GPU are not HDMI 2.0-capable, so Fury cards will not be able to drive 4K TVs at 60Hz over HDMI. AMD has a bit of a handicap here that its competition doesn't share.