Major Tech Companies Form 'Alliance For Open Media' To Create Royalty-Free Video Codec

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They should use Wavelet based compression. Way better quality than existing DCT based compression algorithms.
 
I wish the movie industry, adobe, avid, video cameras makers etc. would join this too. They are all addicted to using patented, DRM filled, lobbyist backed, lawyer approved crap.
 
what i want is a highly compressible codec that can be scaled from extreme compression but high resource use to low compression but likewise next to not resource use.

currently for games i use the lagarith lossless codec, next to no overhead but also large file sizes, but lets say something came around that was a comparable low overhead but offered great compression, and above all else, could be used in a video editor... god thats a dream come true for me.
 
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