Returning to the flipbook example: when flipping through the pages faster, the movement becomes smoother. In other words, the higher the frame rate, the more fluently the video appears to be.
Some typical examples of frame rates are 24 fps for Hollywood movies, and 30 fps or standard television in the US. The 24 fps for Hollywood movies is rather peculiar, given that most equipment can deliver higher frame rates. It is only slightly higher than our brain’s capacity to distinguish separate images, so if it were a little lower, we would actually see the image stutter.
The 24 fps standard is more a matter of taste: many people feel that 24 fps delivers a more cinematic experience. There have been experiments with 48 fps movies (The Hobbit: An Unexpected Journey, for example), which many people thought was ‘too realistic’. But then again, this could be a matter of adaptation and maybe in a few years 48 fps will be the new standard. Most contemporary projectors can handle this frame rate anyway.
A market where high frame rates already found their entrance, is Training & Simulation. For rapidly moving video, you need the additional frames to follow objects correctly. If not, an image could pass the screen in only 2 frames or so, which will make it barely visible – creating a very unnatural effect. 60 fps, 120 fps and even 240 fps are an undeniable plus in this market. Another application where high frame rates matter is gaming.