CNN has reported that discussions are underway between labels and several digital music services with the higher quality files possibly retailing at a premium price.

Tracks are often recorded in studios in a 24-bit format, but then compressed to 16-bit for CD and download.

The move is being backed by Interscope chairman/CEO Jimmy Iovine who has already been working in this area with Beats Audio, the company he co-owns with Dr. Dre.

Iovine told CNN, "We've gone back now at ...