FLAC (Free Lossless Audio Codec)
Definition
A lossless audio compression format that reduces file size by 40–60% without discarding any audio data. Files decode to bit-perfect copies of the original. Widely used for high-resolution audio distribution and archiving.
In Simple Terms
A way to compress audio files to about half their size without losing any quality at all. Perfect for sharing or archiving your masters when WAV files are too large but you don't want to sacrifice anything.
In Practice
A mastered album is distributed in FLAC format for audiophile listeners who want lossless quality at a smaller file size than uncompressed WAV.