There are many sketchy audio converters out there trying to make you pay $ 20 for something you can do for free with this hidden feature in iTunes. It's easy to use and works with your existing library.
Open iTunes settings (iTunes> Settings or Command + Comma) and navigate to the "General" tab. Click the "Import Settings" button at the bottom.
This window allows you to change the format in which new songs are added to your library.
By default, the bit rate is quite low, but you can change it.] The bit rate directly controls the sound quality. 320kbps is as high as most MP3 files go and are very good quality. If the file you are converting is not of the same quality, it will not make any difference.
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Now that we have changed the import settings, we can use the built-in "Create a copy" feature to copy a song. Since we selected MP3 as our file format, the encoder will use it when you copy the song. You can find this option under File> Create MP3 Version.
This will duplicate the file so you have two files with the same name in your library after this. You can right-click on any of them and select "View in Finder" from the drop-down menu to access the actual MP3 file.
You can convert as many songs at a time as you like. iTunes saves the copies in the same album folder so you can sort by "Date Modified" or "Date Added" in Finder to select the new songs. Search for files created at the same time.
From here you can move them elsewhere or delete the old files.
If you need something better than using iTunes or do not want to add your files to iTunes just to convert them, try XLD, a free and open source audio converter.
Just download DMG, open the program and select the output format and then select "Open" from the file menu. It automatically converts the files and saves them to the same directory.
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