MP3 (formally MPEG-1 Audio Layer III or MPEG-2 Audio Layer III) is an audio coding format developed largely by the Fraunhofer Society in Germany under the lead of Karlheinz Brandenburg. It was designed to greatly reduce the amount of data required to represent audio, yet still sound like a faithful reproduction of the original uncompressed audio to most listeners; for example, compared to CD-quality digital audio, MP3 compression can commonly achieve a 75–95% reduction in size, depending on the bit rate. In popular usage, MP3 often refers to files of sound or music recordings stored in the MP3 file format (.mp3) on consumer electronic devices.
MPEG-1 Audio Layer III was originally defined in 1991 as one of the three possible audio codecs of the MPEG-1 standard (along with MPEG-1 Audio Layer I and MPEG-1 Audio Layer II). All three options were retained and further extended—defining additional bit rates and support for more audio channels (supporting surround sound—in the subsequent MPEG-2 standard).