MPEG-1 Audio Layer 3, more commonly referred to as MP3, is a patented digital audio encoding format using a form of lossy data compression. It is a common audio format for consumer audio storage, as well as a de facto standard of digital audio compression for the transfer and playback of music on digital audio players.
MP3 is an audio-specific format that was designed by the Moving Picture Experts Group as part of its MPEG-1 standard. The group was formed by several teams of engineers at Fraunhofer IIS, AT&T-Bell Labs, Thomson-Brandt, CCETT, and others. It got approved as an ISO/IEC standard in 1991.