You are probably aware of VP9 and h265 but did you know that the alliance for open media (AOM) will be ratifying the successor to VP9 called AV1 in January? It will offer ~30% improvement over VP9 and around 20% better than x265 and will be patent-free. Hardware decoders will be available ~12 months afterwards, youtube, netflix, facebook etc will be adopting it.
You are probably aware of Opus, the patent-free audio codec that offers good or great compression from 6-512kbps. Did you know that xHE-AAC was released a while back and uses the USAC algorithm, it offers the best compression for 16-64kbps audio and support for it has been added to the DRM+ digital radio broadcast standard.
Did you know that EVS (Enhanced voice services) is a new patented audio codec that is the best for phone calls, it was ratified 3yrs ago and support has been added in iphone8, iphone8 plus and iphone x. This works for voice-over-lte calls, wifi calls and also voip landline phones too once landline voip phones start rolling out.
You are probably aware that WebP is a decent image codec that was released a few years ago. Did you know that some google employees are creating PIK, which offers 55% performance improvement currently and will be finalised when it reaches 65%?
Did you know that the Jpeg Alliance has announced they are creating JPEG-XL a patent-free successor (base profile only, other profiles paid) to jpeg that will offer 60%+ better compression and will be ratified in 2020/2021?
Did you know that the Alliance for Open Media (AOM), the creators of the upcoming AV1 video codec will be creating a new image codec called AVIF, likely using AV1 as the backend. It is likely that Google's PIK will be incorporated into AVIF like how the development version of the VP10 codec was incorporated into AV1.
Did you know HEIF was ratified a while back and was added in ios11 ~1month ago and offers 50% better compression than jpeg, it uses h265 as the backend.