Google presented new image format, WebP
Last night Google presented a developer preview of a new image format, WebP, that aims to lower some Web traffic by significantly decreasing images file size. The image compressor is based on the very same VP8 codec.
Google claims 39% reduction in file size while not compromising image quality in comparison to JPEG. However the ever-caustic Jason Garrett-Glaser, developer of x264, has already published results of his first test that help understanding how exactly early this developer preview is.