Video compression technologies play a key role in the distribution of video content in broadcasting. Many techniques have been proposed to improve the coding efficiency provided by the most recent video compression standard, High Efficiency Video Coding (HEVC). This includes the latest tools being investigated within the Joint Video Exploration Team (JVET) and the tools provided by the royalty-free AV1 codec developed by the Alliance for Open Media. This paper analyses the overall compression capabilities of these two emerging technologies with respect to HEVC, including objective and subjective performance evaluation and the associated encoding and decoding complexities.