This might be an oversimplification, but as a consumer, I think I see a catch-22 for new codecs. Companies need a big incentive to invest in them, which means the codec has to be technically superior and safe from hidden patent claims. But the only way to know if it's safe is for it to be widely used for a long time. Of course, it can't get widely used without company support in the first place. So, while everyone waits, the technology is no longer superior, and the whole thing fizzles out.