Audio/Video Compression is a process that reduces the size of audio and video files, making them easier to store and transmit. This is achieved by removing redundant or unnecessary data while maintaining acceptable quality. Common formats for compressed audio include MP3 and AAC, while H.264 and HEVC are popular for video. Compression is essential for streaming services, as it allows users to access content without requiring excessive bandwidth. By using algorithms, compression techniques can significantly decrease file sizes, enabling faster downloads and smoother playback on various devices, including smartphones and computers.