AV1 stands for AOMedia Video 1.
AV1 is a video codec developed and specified by the Alliance for Open Media.
As a codec, it is targeted to be the successor of VP9 and H.265, offering better performance.
AV1 supports SVC, and its coding tools make it quite efficient in compressing written text at low bitrate for screen sharing purposes. Today, you can find AV1 being used by WebRTC services such as Google Meet and Jitsi.
The most important aspect of AV1 is it being a royalty free codec.
The Alliance for Open Media, who standardized AV1, are now working on its successor – AV2.
