Google announce WebP as an alternative to JPEG – Update

Google has announced WebP, an image format based on the WebM video codec technology, which it says saves 40% of bandwidth compared with JPEG encoded images. Google believes that, as images and photos make up about 65% of the bytes transmitted per web page, the 40% reduction in image size could offer a dramatic improvement in web performance. With most image formats in use created over ten years ago and based on even older technology, Google saw the opportunity to apply the intra-frame algorithms in the VP8 codec, which it open sourced in May, to a still image format.

Read more at H-online

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