While JPEG takes more or less the same amount of time to compress and
decompress, the speed of MPEG compression varies.
Like JPEG, MPEG
compresses by removing redundant information.
MPEG compressed movies run faster and take less space.
JPEG performs just intraframe compression
MPEG also performs interframe compression.
It samples every 15 frames (i.e., every half second).
There are three parts to the MPEG standard:
The goal is to be able to compress full-motion video so that it can be shown
at a rate of 1.5 Megabits (million bits) per second with minimal quality
degradation.
Prof Ed Cox
on Interframe compression