DVD is a digital optical disc storage format, invented and developed by Philips, Sony, Toshiba, and Panasonic in 1995. DVDs offer higher storage capacity than compact discs while having the same dimensions.
When first invented in 1995, DVD was an initialism for the unofficial term digital videodisk.
Within the next few years, certain members of the DVD Forum proposed the backronym digital versatile disc to express that DVD goes beyond video. However, according to Jim Taylor, a prominent industry figure, the forum never universally accepted this name and a 1999 report decreed that DVD was "simply three letters" and stood for "nothing".
Today, usage varies and there is no universal agreement. Digital versatile disc has gained wide acceptance and is used by the official DVD charter. However, others such as Toshiba (who maintain the DVD Forum Web site) still use the original digital video disc, while Jim Taylor’s FAQ still maintains that DVD has never officially stood for anything.