RAM (Real Audio Media) is a flexible audio format developed by RealNetworks in 1995. Initially, it was intended to stream audio/video clips over the internet. It is designed in a way that users can listen to content while the file is still downloading. Today, many radio stations use it to broadcast content online.
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FLAC (Free Lossless Audio Codec) is a free lossless digital audio format developed by Xiph.Org. A compressed FLAC file can be reduced by between 50-70% of the original size and decompress back to the original sound data. This file format supports metadata like ID3 tags, cover art, and album title.