An object-based wavelet-based video codec has been designed and implemented. The codec takes a colour video sequence of arbitrary size as input and performs intra-frame object-based compression on the sequence. Video sequences are segmented using an optic flow-based algorithm, before being transformed with a symmetrical wavelet transform, prior to Lloyd-Max quantisation and entropy encoding. A video codec quality analyser (CQA) is used to assess the subjective quality of the coded stream with respect to the uncoded one in order to provide a single quality measure that correlates with a subjective assessment of the data. Experiments using standard test sequences show that a higher compression ratio is achieved than obtainable using a similar non-object-based codec, at the same quality level.