WebP is the format that is the preferred format for web images from a SEO point of view. It also has a 26% size reduction over PNG and a 25-34% size reduction over JPEG according to https://developers.google.com/speed/webp.
Please allow WebP formats to be uploaded in StudioPro as an image collection so that we can take advantages of this new format and aren’t being punished by Google for our SEO score for using other image formats.