I think I get what the Op is trying to say.
So instead of having 3 companies compete ting formmarketsharemwith three differing product that, like the movie and music industry, they pool the resources and tech knowledge into a consortium and make a standardised format.
As long as it doesn't go the way of mobile phones and tablets where ere are multiple different flavours it would have potential. But that big thing in the early 80's started by something similar.
Thank you for putting it much clearer than I ever could.