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It costs money to stream video over the Internet, even from ‘free’ sites such as Youtube. That’s because the major video codecs (software used to decode the stream, such as H.264) are patented, and generate millions of dollars in licensing fees.
Enter AOMedia, an organization created by Mozilla, Google, Netflix, Amazon & many others to create a royalty free video codec that was much more efficient than existing ones. Here is the result:
The resulting video files are apparently 30% smaller than existing high efficiency codecs, which means that streaming will be faster and cheaper.
Sounds good to me.
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