M2V is a video category file format, also called MPEG-2 Video. It supports video with a tighter time constraint and interlaced display. The encoded speed at which data is transmitted may be of the order of 40 Mbps (for storage and transmission). It may be higher for professional use in video production. Large frame sizes do not support HD resolution. MPEG-2 format is compatible with MPEG-1. The MPEG-2 format is used mainly for the consumer level of video broadcasting - for example, DVB. And for storage - for example, DVD. But they are also used for professional applications. Say for storing video in a studio. Files with the extension .m2v are necessary if you are preparing a video for burning to DVD using specialized programs. There will be no sound in such a file. This encoding method also involves the .m2a file, where the sound is stored. Then this pair of files (.m2v and .m2a) will be sent to the authoring program line. The program will output them without recoding in the program stream (MPEG 2 PS). There is one caveat. When the weight of these files is 4.3 GB or more, then you need to transcode this file and reduce the bitrate. So when you create * .m2v, you must first select the correct bitrate.
MP3 is the most common music (sound) file format. This format was developed by Fraunhofer IIS and Thomson. This format for storing and transmitting music (sound) files in digital form uses signal compression technology. That is why, unlike the previously widespread WAV format, MP3 files (full name - MPEG Audio Layer-3) are much smaller in size, and their sound quality is much higher. The MP3 format was one of the first and most successful sound compression methods. One of the important characteristics of this process is the degree of compression, that is, how much data is transferred per unit of time. Standard MP3 encoding is from 64 to 320 kb / s.