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scottie said:
AAC files of the same bitrate are of higher audio quality than MP3 files of the same bitrate.

So you can choose to either have
higher quality
lower file size

or a combination of the two

this.

 

I am surprised people still don't know AAC. When I use to encode anime, this is the audio format I was using 5 years ago as it gave me more space for video as audio was same quality for less size.