MPEG2 is a generic coding standard for high quality video and audio. Supplying the standard for digital compression video/audio formats has a great significance for exchanging data in many multimedia applications. In addition, MPEG2 is employed in several HDTV and digital satellite broadcasting systems. Defining the digital format is going to bring new applications in a fusion area of the conventional broadcasting, communication and storage media. In this paper, the MPEG2 standardization work and its technical contents are described.