Now however, product developers must pay a licensing fee to use the MP3 format and so the MP3 format is now being challenged by other emerging compressed audio formats. Originally it was royalty-free for developers to create products that used the MP3 format and as a result many MP3 products have been developed. Most computer users are familiar with the MP3 format. While it is not strictly correct, the term “MP3 Player” has come into common usage to describe software (an app) and hardware products that work with not only the MP3 format but also other compressed digital audio formats. MP3, short for MPEG-1/MPEG-2 Layer 3, is the defacto-standard format for storing compressed digital audio.
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