Through the Alliance for Open Media, big tech companies like Google, Microsoft, Facebook, Netflix etc have finished the first version of the new video compression technology called AV1.
It can match the quality of can match the quality of the prevailing video compression technologies, HEVC and VP9, using 30 percent to 40 percent less network capacity. So video streaming is going to be a lot faster! See the following article from CNET:
Source: Google, Microsoft, Amazon release AV1 compression technology for better streaming video – CNET
