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This bitrate is generally considered "standard" or "mid-range" quality. It is widely used for podcasts, audiobooks, and spoken-word content where file size is more critical than high-fidelity sound.
This calculation is based on the standard storage requirement for this bitrate, which is roughly of stereo audio. Key Characteristics of 128 kbps MP3s 128kbps mp3(2.77 MB)
An MP3 file encoded at (kilobits per second) with a file size of 2.77 MB contains approximately 3 minutes and 1 second of audio. 128kbps mp3(2.77 MB)
If you need to generate or change a file to this specific bitrate, you can use several methods: How to Save a File in Audacity as an MP3 - Swell AI 128kbps mp3(2.77 MB)