The U.N. telecommunications agency says its members have agreed upon a new compression format that could dramatically cut the amount of Internet bandwidth currently used by video files.

The International Telecommunication Union says the format, or codec, known as H.265 would require just half the amount of data needed by its predecessor, H.264.

The Geneva-based agency says videos encoded using the H.264 format — which is favored by devices such as Apple’s iPad — currently account for two-fifths of web traffic.

“ITU-T H.264 underpinned rapid progression and expansion of the video ecosystem, with many adopting it to replace their own proprietary compression codecs,” said Dr Hamadoun I. Touré, Secretary-General, head of the ITU. ”The industry continues to look to ITU and its partners as the global benchmark for video compression, and I have no doubt that this new standard will be as effective as its predecessor in enabling the next wave of innovation in this fast-paced industry.”

ITU says  the new H.265 codec could pave the way for “the next wave of innovation,” such as faster movie downloads and higher-quality video streaming.

“ITU-T H.264 / MPEG-4 AVC is deployed in products and services from companies including Adobe, Apple, BBC, BT, France Telecom, Intel, Microsoft, Motorola, Nokia, Polycom, Samsung, Sony, Tandberg, Toshiba and others to deliver high definition video images over broadcast television, cable TV, a variety of direct-broadcast satellite-based television services, Blu-Ray disc formats, mobile phones, videoconferencing tools, digital storage media, and Internet Protocol television (IPTV),” the ITU explained. “It remains the most deployed global video compression standard.

“ITU-T H.265 / ISO/IEC 23008-2 HEVC will provide a flexible, reliable and robust solution, future-proofed to support the next decade of video. The new standard is designed to take account of advancing screen resolutions and is expected to be phased in as high-end products and services outgrow the limits of current network and display technology.”

(The AP contributed to this report.)