The next codec for video compression is H.266, or Versatile Video Codec (VVC). It promises up to 50% better compression than H.265, or High-Efficiency Video Codec (HEVC).
The JVET decided to build H.266 (VVC) for applications beyond video streaming. The standard has support for beaming 4K to 8K videos seamlessly, along with support for 360-degree videos. This could be useful in VR and AR applications.
Bross mentioned that H.266 is designed in such a way that that you can access different regions of a frame directly in the bitstream. So a video streaming service could choose to streams regions that are not very important in the scence in a lower resolution to save bandwidth.
Check It Out: The H.266 Video Codec is Coming. Here’s What it Promises