The Moving Picture Experts Group (MPEG) is a working group formed by the International Organization for Standardization (ISO) to develop standards for compressing and encoding audio and video. Established in 1988, MPEG aims to create efficient methods for storing and transmitting multimedia content, making it easier to share and access digital media. MPEG has produced several widely used standards, including MPEG-1, MPEG-2, and MPEG-4, which are essential for various applications such as video streaming, broadcasting, and video conferencing. These standards help ensure compatibility across different devices and platforms, enhancing the overall user experience in digital media consumption.