diff --git a/youtube_dl/extractor/funnyordie.py b/youtube_dl/extractor/funnyordie.py
index cdd3baf80..6e6b66660 100644
--- a/youtube_dl/extractor/funnyordie.py
+++ b/youtube_dl/extractor/funnyordie.py
@@ -4,13 +4,14 @@
 import re
 
 from .common import InfoExtractor
+from ..utils import ExtractorError
 
 
 class FunnyOrDieIE(InfoExtractor):
     _VALID_URL = r'https?://(?:www\.)?funnyordie\.com/(?P<type>embed|videos)/(?P<id>[0-9a-f]+)(?:$|[?#/])'
     _TESTS = [{
         'url': 'http://www.funnyordie.com/videos/0732f586d7/heart-shaped-box-literal-video-version',
-        'md5': 'f647e9e90064b53b6e046e75d0241fbd',
+        'md5': 'bcd81e0c4f26189ee09be362ad6e6ba9',
         'info_dict': {
             'id': '0732f586d7',
             'ext': 'mp4',
@@ -20,7 +21,7 @@ class FunnyOrDieIE(InfoExtractor):
         },
     }, {
         'url': 'http://www.funnyordie.com/embed/e402820827',
-        'md5': '0e0c5a7bf45c52b95cd16aa7f28be0b6',
+        'md5': 'ff4d83318f89776ed0250634cfaa8d36',
         'info_dict': {
             'id': 'e402820827',
             'ext': 'mp4',
@@ -36,9 +37,25 @@ def _real_extract(self, url):
         video_id = mobj.group('id')
         webpage = self._download_webpage(url, video_id)
 
-        video_url = self._search_regex(
-            [r'type="video/mp4" src="(.*?)"', r'src="([^>]*?)" type=\'video/mp4\''],
-            webpage, 'video URL', flags=re.DOTALL)
+        links = re.findall(r'<source src="([^"]+/v)\d+\.([^"]+)" type=\'video', webpage)
+        if not links:
+            raise ExtractorError('No media links available for %s' % video_id)
+
+        links.sort(key=lambda link: 1 if link[1] == 'mp4' else 0)
+
+        bitrates = self._html_search_regex(r'<source src="[^"]+/v,((?:\d+,)+)\.mp4\.csmil', webpage, 'video bitrates')
+        bitrates = [int(b) for b in bitrates.rstrip(',').split(',')]
+        bitrates.sort()
+
+        formats = []
+
+        for bitrate in bitrates:
+            for link in links:
+                formats.append({
+                    'url': '%s%d.%s' % (link[0], bitrate, link[1]),
+                    'format_id': '%s-%d' % (link[1], bitrate),
+                    'vbr': bitrate,
+                })
 
         post_json = self._search_regex(
             r'fb_post\s*=\s*(\{.*?\});', webpage, 'post details')
@@ -46,9 +63,8 @@ def _real_extract(self, url):
 
         return {
             'id': video_id,
-            'url': video_url,
-            'ext': 'mp4',
             'title': post['name'],
             'description': post.get('description'),
             'thumbnail': post.get('picture'),
+            'formats': formats,
         }