Well, it is meant to COMPLETELY DESTROY THE DREAMS OF VCC (h266) SUPPORTERS- I mean, it’s 30% more efficient compared to AV1 as others pointed out.

Also, this means we’re approaching a moment where most of our devices decode AV1 natively without use of dav1d (although I still use it since sometimes hardware decoders for some reason mess up shit)

AV2, a generation leap in open video coding and the answer to the world’s growing streaming demands, delivers significantly better compression performance than AV1. AV2 provides enhanced support for AR/VR applications, split-screen delivery of multiple programs, improved handling of screen content, and an ability to operate over a wider visual quality range. AV2 marks a milestone on the path to an open, innovative future of media experiences.

https://aomedia.org/press releases/AOMedia-Announces-Year-End-Launch-of-Next-Generation-Video-Codec-AV2-on-10th-Anniversary/

AV2 vs AV1: What the Next-Gen Video Codec Brings to the Table

Or older article but more comprehensive : AV1 vs AV2 Video Codec: 7 Key Differences You Need to Know. It’s key takeaways :

AV2 delivers 30% better compression efficiency than AV1, which already compresses 30% better than HEVC (H.265).

AV2 encoding demands 2-3 times more computational power than AV1, requiring advanced hardware like RTX 5090 for practical use.

AV2 will officially release by end of 2025, with widespread hardware support expected around 2027 or later.

AV2 introduces advanced features like split-screen delivery, enhanced AR/VR support, and dynamic bitrate switching for adaptive streaming.

88% of AOMedia members plan to implement AV2 within two years, despite infrastructure and hardware compatibility challenges.