VVC should support YCbCr 4:4:4, 4:2:2 and 4:2:0 with 10 to 16 bits per component, BT.2100 wide color gamut and high dynamic range (HDR) of more than 16 stops (with peak brightness of 1000, 400 nits), auxiliary channels (for depth, transparency, etc.), variable and fractional frame rates from 0 to 120 Hz, scalable video coding for temporal (frame rate), spatial (resolution), SNR, color gamut and dynamic range differences, stereo/multiview coding, panoramic formats, and still picture coding. It should support resolutions from 4K to 16K as well as 360° videos. The new algorithms should have a 30–50% better compression rate for the same perceptual quality, with support for lossless and subjectively lossless compression. In October 2015, the MPEG and VCEG formed the Joint Video Exploration Team (JVET) to evaluate available compression technologies and study the requirements for a next-generation video compression standard.
