https://research.mozilla.org/av1-media-codecs/The goal of the AV1 project is to replace AVC/H.264 as the predominant video format for the web and to compete with the HEVC codec, so high-quality video can be shared freely and efficiently on the open web platform.
In 2015, Mozilla, Google, and Cisco, and others joined with Amazon and Netflix and hardware vendors AMD, ARM, Intel, and NVIDIA to form AOMedia. As AOMedia grew, efforts to create an open video format coalesced around a new codec: AV1. AV1 is based largely on Google’s VP9 and incorporates tools and technologies from Daala, Thor, and VP10.