MP3

MP3 is an extension and is the name generally given to sound files encoded in MPEG Audio Layer 3 compression format.

It is appreciated the world over for its compression performance with a factor of 12 and the very small alteration in the sound which is close to CD quality. The MP3 format was introduced in 1991. It was developed by the Fraunhofer Institute in Germany; curiously, it is still an integral part of the MPEG 1 and MPEG 2 specifications and is not a distinct new specification.