Semantic descriptions of non-textual media available on the web can be used to facilitate retrieval and presentation of media assets and documents containing them. While technologies for multimedia semantic descriptions already exist, there is as yet no formal description of a high quality multimedia ontology that is compatible with existing (semantic) web technologies. We explain the complexity of the problem using an annotation scenario. We then derive a number of requirements for specifying a formal multimedia ontology before we present the developed ontology, COMM, and evaluate it with respect to our requirements. We provide an API for generating multimedia annotations that conform to COMM.