MPEG is the standard.
MPEG Compression Standard
The current standard for video compression was created by the Moving Pictures Experts Group (MPEG). The MPEG organization has come up with several compression standards for video, Internet, sound, and others. You are probably familiar with their compression standard for sound. The MP standard, as it is frequently referred to, is frequently used for computer music files.
The compression standards for video are called MPEG 2. They include both spatial and temporal compression methods to make the most efficient use of bandwidth. The designers of this standard realized that consumers couldn't go out and buy a new decoder every time advances were made in the technology. So they set up MPEG as a protocol. ...
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