YUV has been the standard video Color encoding on TV.
It is in fact a backwards compatible extension to black and white as the wikipedia page puts it: https://en.wikipedia.org/wiki/YUV
while not standard, writing a shader to decode is not hard(admittedly if you know shaders)
The time I spent dealing with video decode/encode was not pleasurable but interesting.
The really hard part is the actual encoding/decoding algorhtims