The ITU group responsible for the development of the Primetime Emmy award winning video coding standard ITU-T H.264 (which is also standardized as ISO/IEC 14496-10) has issued a draft call for proposals for new video coding technology. The final call for proposals is expected to be issued in January 2010, and it may be issued jointly with ISO/IEC JTC1/SC29/WG11 (MPEG).

ITU-T Study Group 16 is asking for proposals that give substantially increased compression relative to existing standards.

The proposals will be evaluated using formal subjective tests with the results made public. A proposal evaluation meeting is planned for April 2010. Depending on the proposed technology, a final resulting standard may be developed by July 2012.

Details here.