In modeling musical surprisal expectancy with computational methods, it has been proposed to use the information content (IC) of one-step predictions from an autoregressive model as a proxy for surprisal in symbolic music. With an appropriately chosen model, the IC of musical events has been shown to correlate with human perception of surprise and complexity aspects, including tonal and rhythmic complexity. This work investigates whether an analogous methodology can be applied to music audio. We train an autoregressive Transformer model to predict compressed latent audio representations of a pretrained autoencoder network. We verify learning effects by estimating the decrease in IC with repetitions. We investigate the mean IC of musical segment types (e.g., A or B) and find that segment types appearing later in a piece have a higher IC than earlier ones on average. We investigate the IC's relation to audio and musical features and find it correlated with timbral variations and loudness and, to a lesser extent, dissonance, rhythmic complexity, and onset density related to audio and musical features. Finally, we investigate if the IC can predict EEG responses to songs and thus model humans' surprisal in music. We provide code for our method on github.com/sonycslparis/audioic.