It is not video, but I have worked on image compression using neural networks on my master thesis. It was an improvement over an existing method, so there is

It is not video, but I have worked on image compression using neural networks on my master thesis. It was an improvement over an existing method, so there is quite a bit of research going on in this area. Briefly, the idea was to use an auto-encoder to transform the image, then quantize and encode the transform coefficients. So, you can actually “teach” the network to be resilient against quantization operation. Very similar to what the author describes.