Yesterday, IETF announced the publication of of RFC 6716, the Definition of the Opus Audio Codec, a low latency, variable bandwidth, codec intended for both VoIP, film and music. This is the first time, as far as I know, that IETF have standardized a multimedia codec. In RFC 3533, IETF standardized the OGG container format, and it has proven to be a great royalty free container for audio, video and movies. I hope IETF will continue to standardize more royalty free codeces, after ISO and MPEG have proven incapable of securing everyone equal rights to publish multimedia content on the Internet.
IETF require two interoperating independent implementations to ratify a standard, and have so far ensured to only standardize royalty free specifications. Both are key factors to allow everyone (rich and poor), to compete on equal terms on the Internet.
Visit the Opus project page if you want to learn more about the solution.