A system and process for generating a panoramic video. Essentially, the panoramic video is created by first acquiring multiple videos of the scene being depicted. Preferably, these videos collectively depict a full 360 degree view of the surrounding scene and are captured using a multiple camera rig. The acquisition phase also includes a calibration procedure that provides information about the camera rig used to capture the videos that is used in the next phase for creating the panoramic video. This next phase, which is referred to as the authoring phase, involves mosaicing or stitching individual frames of the videos, which were captured at approximately the same moment in time, to form each frame of the panoramic video. A series of texture maps are then constructed for each frame of the panoramic video. Each texture map coincides with a portion of a prescribed environment model of the scene. The texture map representations of each frame of the panoramic video are encoded so as to facilitate their transfer and viewing. This can include compressing the panoramic video frames Such a procedure is useful in applications where the panoramic video is to be transferred over a network, such as the Internet.