This paper proposes a novel robust audio watermarking algorithm to embed data and extract it in a bit-exact manner based on changing the magnitudes of the FFT spectrum. The key point is selecting a frequency band for embedding based on the comparison between the original and the MP3 compressed/decompressed signal and on a suitable scaling factor. The experimental results show that the method has a very high capacity (about 5kbps), without significant perceptual distortion (ODG about -0.25) and provides robustness against common audio signal processing such as added noise, filtering and MPEG compression (MP3). Furthermore, the proposed method has a larger capacity (number of embedded bits to number of host bits rate) than recent image data hiding methods.