Digital Theater Systems (DTS) is, along with Dolby, the main providers of audio compression for DVD and Blu-ray discs along with theatrical applications. Originally created as a less compressed 5.1 surround sound format for Steven Spielberg's blockbuster, Jurassic Park, DTS gained prominence on the Laserdisc format and then made an unprecedented move in getting their surround sound decoding to nearly every AV receiver on the market.
DTS while gaining prominence as a surround sound format and before the company went public, created their own record label which promoted music in surround sound and of course in DTS. Their big title was the 5.1 remixed version of Queen's Night at the Opera.
In addition to the basic DTS format, on Blu-ray you can find the lossless DTS-HD Master Audio and the aptly named higher resolution DTS-HD High Resoltion, both higher resolution format.
Compare DTS to a brand like Dolby.