New AV1 Video Codec Is Actually Fast, Facebook Benchmark Reveals (slated to replace all existing video compression tools)

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https://www.bleepingcomputer.com/news/technology/new-av1-video-codec-is-actually-fast-facebook-benchmark-reveals/

The recently released AV1 video codec works better than expected, according to Facebook engineers, after putting the new technology through a benchmark test that tried to mimic Facebook's real-life production environment as close as possible.
The new AV1 video compression technology (codec) launched on March 28 and is the creation of the Alliance for Open Media, an organization consisting of numerous technology firms.

AV1 is a mashup of three other codecs

Work on the AV1 (AOMedia Video 1) codec started in 2015, when Google, Cisco, and Mozilla+Xiph.org pooled together three codecs —VPX, Thor, and Daala— into a new project that aimed to create a royalty-free codec that they planned to make freely available to anyone on the video market.

AV1 will revolutionize video streaming

With such independent tests confirming the success of the AV1 development process, the technology is slated to replace all existing video compression tools in the upcoming future. Its success is also amost guaranteed by its royalty-free licensing model.

Tech giants like Google, Twitch, Amazon, Microsoft, Hulu, and others have already shown interest in supporting the new AV1 codec for their respective video streaming products. Browser makers, software creators, and silicon companies have also announced interest in integrating AV1 support.