AV2, a generation leap in open video coding and the answer to the world’s growing streaming demands, delivers significantly better compression performance than AV1. AV2 provides enhanced support for AR/VR applications, split-screen delivery of multiple programs, improved handling of screen content, and an ability to operate over a wider visual quality range. AV2 marks a milestone on the path to an open, innovative future of media experiences.

https://aomedia.org/press releases/AOMedia-Announces-Year-End-Launch-of-Next-Generation-Video-Codec-AV2-on-10th-Anniversary/