24 is the number of bits per pixel -- 8 bits per color x 3 colors (probably red, green, blue)
1280 pixels wide, by 720 pixels high, and each of those pixels has 3 bytes dedicated to describing the color of that specific pixel.
Now if you see 1280x720x32, the "extra" byte of color information is the "alpha" value -- the transparency of that pixel, from 0 (completely transparent) to 255 (completely opaque).
Video files typically do not have 32 bits (except maybe uncompressed files or some specialized Quicktime files, I think), but graphics like png's, etc., created in photoshop might have red/green/blue plus alpha in order to support the transparent (checkerboard) sections on the image.