No.
Unfortunately, we cannot support recording to mp3 as it is a proprietary format which is licensed at up to $4.99 per download. If we were to allow mp3, we’d either have to charge users an exorbitant amount of money to download the app or infringe on intellectual property which could put us at great risk.
You can get more information from technicolor's website: http://mp3licensing.com/royalty/
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