Fraunhofer Institute for Integrated Circuits, a German Foundation, which owns the patent for MP3 audio format and licenses it, has announced that it’s abandoning the licenses to the format. The foundation has supported the use of better formats like AAC family or MPEG-H. While this move won’t end the use of MP3 instantly, it’s a symbolic move that’ll help other audio formats grow. MP3’s termination won’t be killing its usage instantly. People will continue to use MP3 as they don’t need a license. However, this move is symbolic and is in favor of superior audio formats. Fraunhofer Institute says that most of the well-known streaming, TV, or radio service providers are now using ISO-MPEG codecs like AAC family or MPEG-H.