On this day in 1995, MPEG-1 Audio layer 3, informally known as the MP3 format was born. The new file format allowed engineers to make CD-quality music files small enough to be stored on a standard computer. This innovation would soon change the music industry forever.
This new compression method allowed engineers to eliminate 90% of the data stored on a standard CD, reducing the amount of space needed on your computer from 32mb to as little as 2 or 3mb. Considering the standard internet modem speed was 56k and the average computer hard drive space was 400-500 mbs, the comparatively tiny MP3 played a huge role in the decline in CD sales, and made the music streaming services we use today possible.