"Set for a year-end release, AV2 is not only an upgrade to the widely adopted AV1 but also a foundational piece of AOMedia’s future tech stack.
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."
Without hardware decoding, it will take more compute to decompress, but sites usually wait to fully roll out new codecs until hardware decoding is more ubiquitous, because of how many people use low-powered streaming sticks and Smart TVs.
Then it’s arguably delegating some of the cost to the final user, large streaming companies spending a bit less on IXP contracts while viewers have to have newer hardware that might need a bit more energy too to run.