Apple Inc. (NASDAQ:AAPL)’s latest collaboration is an interesting choice but it may just be the best decision to date. Legendary rock band U2 recently hinted to Time Magazine about a collaboration project with Apple.

Apple And U2 Are Working On New Digital Music Format

Apple: Possible music format in the works

Bono told the magazine he hopes the new digital music format in the works will excite consumers enough and generate music sales. Unfortunately, there aren’t very many details on the collaboration. His interview with the magazine was actually included in a blog post on the official website for U2 after the release of their new album. The post explained how U2 will collaborate with Apple for the few years as an effort to transform the entire music industry.

It’s not clear what this new music format may be. Right now there is one new music format that could tempt music fans to fall in love with music and purchase it. Pono is a unique prism-shaped music player that plays ultra-high resolution music in FLAC format. The famous Neil Young (who also happens to be chief executive officer for Pono) says the sound quality is like being in the recording studio with the band.

A need to ignite interest in music purchases

Apple already started to find new ways to appeal to audiophiles by remastering albums. The “Mastered for iTunes” series offers remastered albums with high-quality sound.

Bono elaborated on the project, “I think it’s going to get very exciting for the music business, an audiovisual interactive format for music that can’t be pirated and will bring back album artwork in the most powerful way, where you can play with the lyrics and get behind the songs when you’re sitting on the subway with your iPad or on these big flat screens. You can see photography like you’ve never seen it before.”

Apple’s influence on the music industry has been great. For over a decade, the company has dominated the digital music market with iTunes. Last year the company launched iTunes Radio to cement its position in the market.