Do they have researchers working on new audio and video formats? Short answer is yes. Search for "Dolby" under "Author Affiliation" in the AES paper search [0]

Do they have researchers working on new audio and video formats? Short answer is yes. Search for "Dolby" under "Author Affiliation" in the AES paper search [0] and you can see the research they publish. (the papers themselves are unfortunately behind the AES paywall, but if usually authors will send you the paper if you ask nicely). [0] https://www.aes.org/publications/preprints/search.cfm https://www.aes.org/publications/preprints/search.cfm