With 2 billion users worldwide, Facebook joins this alliance and makes a lot of sense. Currently, most online video formats are H.264 / AVC or H.265 / EVC. These videos and audio compression technologies can greatly reduce file size and increase Clarity, but the higher licensing fees that result from the complex patent structure prevent it from the further application. AV1 encoding standard came into being, positioning the next generation encoding standard AV1 technically challenge with HEVC / H.265, but also with the VP9 free open source, browser-friendly advantages, Alliance for Open Media as a non-profit neutral standard The organization develops and maintains it.
Reference: aomedia