Which is the best out of these three formats: MP3, AAC, or AIFF?

Answer by Lancy Spears:

There is no the best one, but is the most suitable one for you.
The differences of the three:
MP3 (MPEG-2 Audio Layer III)
Filename Extension: .mp3
Format Type: Lossy Compressed
When Internet file-sharing boomed into popularity with Napster and the iPod, the MP3 cornered the market for one reason: it had a small footprint. Without broadband connections, it was impractical at the time to share file sizes larger than the MP3 standard 2 – 3 Megabytes.
And that preference has stuck for some time now even though MP3 does not have nearly the same amount of quality as WAV or AIFF files. But despite this growing base of people using higher quality formats, there are still those who prefer the MP3 — whether out of nostalgia or quality, who knows.
What does this mean for you?  Well, the MP3 format uses compression which actually removes data from a song using complicated algorithms. The reason for removing this data is to save space and make the file smaller.
So, if you have a slower internet connection or limited hard drive space, MP3 could be your file format of choice. If you’re worried about quality loss, don’t fret too much about it. While, yes, there is a noticeable drop off in sound quality, MP3 files fall square under the “good enough” umbrella.

AIFF (Audio Interchange File Format)
Filename Extension: .aif or .aiff
Format Type: Uncompressed
In terms of file size and quality, AIFF and WAV formats are fairly interchangeable. For you techno-junkies, the AIFF format results in an uncompressed PCM (pulse-code modulation) file meaning it still has relatively large file sizes, but maintains a higher quality of sound.
In fact, if you check out some of the free stock music on this site, the AIFF files and WAV files have similar file sizes as WAV also uses PCM.
Again, AIFF files offer a lot of flexibility in editing, copying, changing file formats, and other post-production activities. They are the Apple/Macintosh equivalent of WAV files, though both Windows PCs and Apple Macs will recognize either format.
Reblog from Which Audio File Format is Right For You?.

Advanced Audio Coding (AAC) is an audio coding standard for lossy digital audio compression. Designed to be the successor of theMP3 format, AAC generally achieves better sound quality than MP3 at similar bit rates.[2]
AAC has been standardized by ISO and IEC, as part of the MPEG-2 and MPEG-4 specifications.[3][4] Part of the AAC known as High Efficiency Advanced Audio Coding (HE-AAC) which is part of MPEG-4 Audio is also adopted into digital radio standards like DAB+ andDigital Radio Mondiale, as well as mobile television standards DVB-H and ATSC-M/H.
AAC supports inclusion of 48 full-bandwidth (up to 96 kHz) audio channels in one stream plus 16 low frequency effects (LFE, limited to 120 Hz) channels, up to 16 "coupling" or dialog channels, and up to 16 data streams. The quality for stereo is satisfactory to modest requirements at 96 kbit/s in joint stereo mode; however, hi-fi transparency demands data rates of at least 128 kbit/s (VBR). The MPEG-2 audio tests showed that AAC meets the requirements referred to as "transparent" for the ITU at 128 kbit/s for stereo, and 320 kbit/s for 5.1 audio.
AAC is the default or standard audio format for YouTube, iPhone, iPod, iPad, Nintendo DSi, Nintendo 3DS, iTunes, DivX Plus Web Player and PlayStation 3. It is supported on PlayStation Vita, Wii (with the Photo Channel 1.1 update installed), Sony Walkman MP3series and later, Sony Ericsson; Nokia, Android, BlackBerry, and webOS-based mobile phones, with the use of a converter. AAC is also supported by manufacturers of in-dash car audio systems[when?][vague].
Reblog from Advanced Audio Coding.

Which is the best out of these three formats: MP3, AAC, or AIFF?

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