File extension M1V - Moving Pictures Experts Group video (MPEG-1 IPB).MPEG-1 was an early standard for lossy compression of video and audio. It was designed to compress VHS-quality raw digital video and CD audio down to 1.5 Mbit/s (26:1 and 6:1 compression ratios respectively) without obvious quality loss, making Video CDs, digital cable/satellite TV and digital audio broadcasting (DAB) possible.Today, MPEG-1 has become the most widely compatible lossy audio/video format in the world, and is used in a large number of products and technologies. Perhaps the best-known part of the MPEG-1 standard is the MP3 audio format it introduced. Despite its age, MPEG-1 is not necessarily obsolete or substantially inferior to newer technologies. According to Leonardo Chiariglione (co-founder of MPEG): "the idea that compression technology keeps on improving is a myth."