Kelly M. answered 02/03/20
Multiple award winning CG Supervisor/VFX Artist
The format is called a Digital Cinema Pack and beyond the uncompressed WAVE or AIFF audio in 5:1 or 7:1 dolby or whatever, the images are actually encoded using a still image format called JPEG2000.
It's a wavelet based image compression technology that allows for either visually lossless or lossy compression. https://jpeg.org/jpeg2000/applications.html
A great link is this... https://en.wikipedia.org/wiki/Digital_Cinema_Package
It also has interesting applications in other areas. Such as video streaming, but in a "film" context. None of this MPEG (1, 2, 1 + layer 3 (audio), 4), garbage which is actually a format that type that was NEVER designed for use over top of of TCP/IP based networks (ie the internet) yet dominates streaming technology today. Which is why streaming still sucks.
Check this out.... https://patentimages.storage.googleapis.com/44/1d/19/422bc1c3eb164e/WO2001099430A2.pdf