The MP2 file format, formally known as MPEG-1 Audio Layer II, is a lossy audio compression format developed by the Fraunhofer Institute for Integrated Circuits (IIS) and the British Broadcasting Corporation (BBC). It is an older standard compared to the more ubiquitous MP3 (MPEG-1 Audio Layer III), although it shares the same underlying MPEG-1 standard structure. MP2 offers better audio quality than MP3 at the same bitrate, particularly at lower bitrates, which made it a preferred choice for professional broadcasting applications, such as digital radio (DAB) and digital television (DVB) standards. It supports various bitrates, typically ranging from 32 kbps up to 320 kbps, and can handle stereo or mono audio. While MP3 became dominant in consumer digital music distribution due to its superior compression efficiency for similar perceived quality, MP2 remains relevant in specific broadcast environments where its robustness and established standards compliance are valued. The file extension commonly associated with this format is .mp2.