Looks as if H.264 is on the way out. The International Telecommunication Union has introduced "recommendation ITU-T H.265" or just H.265 for short. With 4K on the horizon, it was inevitable that a new, more powerful compression standard was going to replace the current standard. H.265 bring one very important feature to video-hungry consumers:
the ability to reproduce quality imagery at half the bitrate required with H.264.
The ITU also adds they believe this will be the standard for the next decade.