I think apple music did something better.  

 If you want lossless, FLAC is the way to go, so in terms of quality, that's probably the best. If you don't mind some compression, I'm less sure. MP3 supports fairly high bit rates, so it's at least pretty decent on top of being so universal. 

 .Wav and .flac for best quality.
Mp3 with adequate bitrate (192 kbps+) is fine for most purposes and audio systems. 320 kbps for proper mp3. 

 I recall seeing once... a video documentary of a Japanese citizen, lover of music, that even asked the grid company a connection apart for his house so the energy taken by his devices were cleaner and didn't interfere with sound quality; analog recordings (lateral answer), though I don't remember which of them all was best.