We need an alternative to JPEG that a) is widely supported, b) has better compression efficiency and c) has a wider feature set. We believe AV1 Image File Format (AVIF) has the potential. Using the framework we have open sourced, AVIF compression efficiency can be seen at work and compared against a whole range of image codecs that came before it.

https://netflixtechblog.com/avif-for-next-generation-image-coding-b1d75675fe4