1. A method for compressing a source image on a processor comprising a single instruction, multiple data instruction set (SIMD), comprising: aligning each channel of the source image, the source image comprising at least one pixel, each pixel comprising a red (R) value, a green (G) value, a blue (B) value, and an alpha (A) value; planarizing the source image to produce a R vector, a G vector and a B vector, the R vector comprising the R value of each pixel, the G vector comprising the G value of each pixel and the B vector comprising the B value of each pixel; unpacking each of the R vector, the G vector, and the B vector; setting a Co vector to equal the R vector minus the B vector; setting a Y vector to equal the sum of the B vector Co vector arithmetically divided by two; setting a Cg vector to equal the G vector minus the Y vector; setting the Y vector to equal the Y vector added to the Cg vector arithmetically divided by two; setting the Co vector to equal the Co vector divided by a color loss level and then added to a chroma mask; setting the Cg vector to equal the Cg vector divided by a color loss level and then added to a chroma mask; run-length encoding the Y vector; run-length encoding the Co vector; run-length encoding the Cg vector; and storing an output image, wherein the output image comprises the Y vector, the Co vector and the Cg vector, and the output image corresponds to the source image.