If you grew up in the 90s and early 2000s, you might have build your music collection in MP3 format and even had burned CDs to add the MP3 formatted audio onto the audio disc. The German agency (Fraunhover Institute for Integrated Circuits) that invented the audio format and licensed some patents for it – has officially terminated its licensing program.
RIP MP3 Format
This apparently means that the upcoming devices will no more support the audio format but you can still listen to the MP3s stored on your hard drive. For many music fans, the MP3 holds a deeper meaning than just a file format.
Even though MP3 is still widely used and supported, the alternative formats have steadily gained over the years and some of them offer much better audio quality at lower bit rates. German institute noted that newer formats like AAC can deliver more features and a higher audio quality at much lower bitrates.