"H.264 is a standard for video compression. It is also known as MPEG-4 Part 10, or MPEG-4 AVC (for Advanced Video Coding). It was written by the ITU-T Video Coding Experts Group (VCEG) together with the ISO/IEC Moving Picture Experts Group (MPEG) as the product of a partnership effort known as the Joint Video Team (JVT). The ITU-T H.264 standard and the ISO/IEC MPEG-4 Part 10 standard (formally, ISO/IEC 14496-10) are jointly maintained so that they have identical technical content. The final drafting work on the first version of the standard was completed in May 2003.
The intent of the H.264/AVC project was to create a standard capable of providing good video quality at substantially lower bit rates than previous standards (e.g. half or less the bit rate of MPEG-2, H.263, or MPEG-4 Part 2), without increasing the complexity of design so much that it would be impractical or excessively expensive to implement. An additional goal was to provide enough flexibility to allow the standard to be applied to a wide variety of applications on a wide variety of networks and systems, including low and high bit rates, low and high resolution video, broadcast, DVD storage, RTP/IP packet networks, and ITU-T multimedia telephony systems."