MPEG-4, short for Moving Picture Experts Group-4, is a widely used digital multimedia format. It is designed to efficiently compress audio and video data while maintaining high quality. With its advanced compression algorithms, MPEG-4 enables streaming and storage of media content with reduced bandwidth requirements.

One of the key features of MPEG-4 is its ability to handle various types of media, including audio, video, and even 3D graphics. It supports interactive multimedia applications and provides a flexible framework for content delivery across different platforms and devices.

Moreover, MPEG-4 incorporates advanced functionalities like object-based coding, which allows manipulation of individual elements within a multimedia scene. This feature enables interactive applications such as virtual reality and augmented reality experiences.

In conclusion, MPEG-4 is a versatile and efficient multimedia format that revolutionizes the way we consume and interact with digital content. Its compression capabilities, support for diverse media types, and interactive features make it a vital component in modern multimedia applications.