WebP is an improvement on the compression that JPEG provides, based on the open-sourced VP8 codec, applied through the intra frame coding to push the envelope in still image coding. Also, it adopted a light weight container based on RIFF.
WebP is derived form a sample of one million images (comprising 90% JPEG, PNG and GIF shared 10%) re-encoded without perceptibly compromising image quality, resulting an average 39% reduction in file size.
The lower file size translates to faster file transfer and lesser burden on network. And hardware eventually may favor WebP, as any hardware that supports WebM also supports WebP. Also making its mobile application very possible.
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