MPEG-1 Audio Layer 3 popularly known as mp3 is very famous audio format. This is well known format among the youth especially. This format has edge over other formats because it won’t take much space like others, it will remove unwanted sounds which take lot of space. The file size will be very less, without compromising on quality. All the portable music player users prefer mp3 as they can save lot songs in their device. Even there are other formats which takes lesser space than mp3 format but you may have to compromise in quality, which you don’t have do in mp3.