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There are currently no official repositories for an APT install of FFMPEG on Ubuntu, but If you are upgrading to or installing Ubuntu 14.04 LTS and want to recompile or install FFMPEG the process is very straight forward and takes about 10 to 20 minutes depending on your setup.
You can find the latest installation instructions here
Here are the steps I took to upgrade an existing ffmpeg installation after upgrading from Ubuntu Server 12.04 LTS to 14.04.01 LTS
Commands
sudo apt-get update
sudo apt-get -y install autoconf automake build-essential libass-dev libfreetype6-dev libgpac-dev \
libsdl1.2-dev libtheora-dev libtool libva-dev libvdpau-dev libvorbis-dev libx11-dev \
libxext-dev libxfixes-dev pkg-config texi2html zlib1g-dev
mkdir ~/ffmpeg_sources
sudo apt-get install yams
sudo apt-get install libx264-dev
sudo apt-get install unzip
cd ~/ffmpeg_sources
wget -O fdk-aac.zip https://github.com/mstorsjo/fdk-aac/zipball/master
unzip fdk-aac.zip
cd mstorsjo-fdk-aac*
autoreconf -fiv
./configure --prefix="$HOME/ffmpeg_build" --disable-shared
make
make install
make distclean
sudo apt-get install libmp3lame-dev
sudo apt-get install libopus-dev
cd ~/ffmpeg_sources
wget http://webm.googlecode.com/files/libvpx-v1.3.0.tar.bz2
tar xjvf libvpx-v1.3.0.tar.bz2
cd libvpx-v1.3.0
PATH="$PATH:$HOME/bin" ./configure --prefix="$HOME/ffmpeg_build" --disable-examples
PATH="$PATH:$HOME/bin" make
make install
make clean
cd ~/ffmpeg_sources
wget http://ffmpeg.org/releases/ffmpeg-snapshot.tar.bz2
tar xjvf ffmpeg-snapshot.tar.bz2
cd ffmpeg
PATH="$PATH:$HOME/bin" PKG_CONFIG_PATH="$HOME/ffmpeg_build/lib/pkgconfig" ./configure \
--prefix="$HOME/ffmpeg_build" \
--extra-cflags="-I$HOME/ffmpeg_build/include" \
--extra-ldflags="-L$HOME/ffmpeg_build/lib" \
--bindir="$HOME/bin" \
--enable-gpl \
--enable-libass \
--enable-libfdk-aac \
--enable-libfreetype \
--enable-libmp3lame \
--enable-libopus \
--enable-libtheora \
--enable-libvorbis \
--enable-libvpx \
--enable-libx264 \
--enable-nonfree
PATH="$PATH:$HOME/bin" make
make install
make distclean
hash -r
cp ~/bin/ffmpeg /usr/bin/
After compilation FFMPEG version is
ffmpeg version git-2014-01-21-91f4394 Copyright (c) 2000-2014 the FFmpeg developers
built on Oct 22 2014 03:13:56 with gcc 4.8 (Ubuntu 4.8.2-19ubuntu1)
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