Is a video format similar to MP4. The difference between the formats is their developers and protection. Apple company, has developed a format that has provided DRM-lock for M4V. Video files in this format are downloaded from iTunes.
is the most common format for storing audio. Almost any player on any platform can open mp3 files. The audio is compressed with loss of quality, but the loss is negligible for the typical user, and the file size is usually less than that of the original files.