The best replacement for pcm is bitstream.

The best alternatives to pcm are rated as following:
★★★★★  bitstream
★★★★★  dolby digital
★★★★  dts
★★★  dolby
★★★  raw
★★★  ac3
★  dsd
★  mp3
★  aac
★  ecm
★  ppm
★  lpcm
★  bitstream audio
★  bitstream ps4
★  dts neo 2.5
★  auto
★  multichannel
★  fm
  bitstream ps3
  wav
  dts better
  truehd
  ecu
  pwm
  raw digital output
  bitstream audiophile
  ac 3
  i2s
  raw audio
  mp2
  pam
  true hd
  tem
  dts hd
  dts hd master audio
  spdif
  pcm
  raw audio output
  32 bit float

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Google Trends

Scale is based on the average worldwide traffic of pcm in all years. Click on graph for more.
pcm
bitstream
dolby digital