MP2, or MPEG-1 Part 3 Layer 2, is popular in digital radio and television broadcasting. MP1, or MPEG-1 Part 3 Layer 1, has been abandoned. There are three levels of complexity in audio coding: MP1, MP2, and MP3. Formed in 1988, the group developed compression standards for all video data, including DVD movies, satellite broadcasting, and high-definition television. MP3 refers to audio and video compression coding standards created by the Motion Pictures Expert Group (MPEG). Although the MP3 format is the standard used by MP3 players, they are capable of storing and playing audio and video files that come in other digital formats, including JPEG, GIF, BMP, WAV, and Audible. This format quickly became the standard in audio file downloading and distribution in the late 1990s and into the twenty-first century. The device is called an MP3 player because the digital format used most commonly on the device is called an MP3. NAICS-Based Product Codes: 33-43103014 PRODUCT OVERVIEWĪn MP3 player, often called a digital music player or portable audio player, is a handheld device that plays and stores audio and video files. SIC: 3651 Audio and Video Equipment Manufacturing NAICS: 33-4310 Audio and Video Equipment Manufacturer
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