H.265? Sounds better.

ITU approves new H.265 video format:

A new video coding standard building on the PrimeTime Emmy award winning ITU-T H.264 / MPEG-4 AVC was agreed by ITU members today.
The new codec will considerably ease the burden on global networks where, by some estimates, video accounts for more than half of bandwidth use. The new standard, known informally as ‘High Efficiency Video Coding’ (HEVC) will need only half the bit rate of its predecessor, ITU-T H.264 / MPEG-4 Part 10 ‘Advanced Video Coding’ (AVC), which currently accounts for over 80 per cent of all web video. HEVC will unleash a new phase of innovation in video production spanning the whole ICT spectrum, from mobile devices through to Ultra-High Definition TV.
ITU-T’s Study Group 16 has agreed first-stage approval (consent) of the much-anticipated standard known formally as Recommendation ITU-T H.265 or ISO/IEC 23008-2. It is the product of collaboration between the ITU Video Coding Experts Group (VCEG) and the ISO/IEC Moving Picture Experts Group (MPEG).

I have no idea what this means.

Do you?

Update:

ReelSEO does: H.265 Video Codec Approved, Will it Revolutionize Video?:

H.264 is pretty much the de facto codec for video compression online these days. WebM isn't even supported in Android, nor just about anywhere else. So Google seems to have moved on to other projects instead of pushing for that. Now, H.265 is ready to swoop in and revolutionize the online video industry, or is it?