“Consumers are a lot savvier than some people think and overwhelmingly choose MP3 over any other format when given the choice. MP3 is the only truly interoperable format that works with the iPod, most mobile phones (including the iPhone) and all MP3 players," said Ben Drury of 7digital.com.
“The MP3 format is also good for the music industry as a whole. As physical sales on the high street and online continue to drop, it is vital that labels find a way to increase digital album sales to make up the shortfall. In order for music industry revenues to flourish again, all four majors need to get on board and make music available to the consumer in the format of their choice,” concluded Drury, who is also deputy chairman of the Entertainment Retailers Association (ERA).
Source: Macworld