The only exception I can think of is codecs that have error correction built into them on the decode end. Like Sony's DV (and the pro version DVCAM) tapes. Yes, it's all 1's and 0's....but with a tape format you'll get errors(physical imperfections in the tape). So to over come that, it would look at past B-frames, and interpolate. And other codecs do this as well, if they can't re-read the data. I wonder how something as simple as a MP3 player would deal with a error? I'm sure that it's a bit stream, but with some kind of markers. So, if it got a error in the data, would it try to correct it? Or just play the garbled bits as audio?
Dave mentioned, but downplayed Sony's domination in the pro video production world. It didn't just stop with Betamax....that later became Betacam SP. 99% of TV you watched in the 90's was most likely coming from or shot on BetacamSP. Sony dominated the market. The most popular editor/recorder was the UVW-1800. Sticker price as about $25k back in the day. Now you can get one for about $100. Would love to see a tear down of one.
Sony isn't dead, but they did shoot themselves in the foot for consumer products as a brand - to people in the know. For my mom, it's still a trusted brand.
Now-a-days....They make most of the cameras for smart phones..iphone, samsung. And do a good job at it.
They also sell life insurance....oddly enough. Apparently - besides movies, they make a ton of money from it.
http://www.nytimes.com/2013/05/28/business/global/sonys-bread-and-butter-its-not-electronics.htmlWould have liked to seen that mentioned.