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Audio / Video bitrate limit

Posted: Tue Oct 28, 2014 6:48 am
by neohidra
I am interested in limiting the bitrate (while transcoding).

Limiting the audio bitrate is easy - AC-3 re-encoding audio bitrate (in Kbps). But how to limit the bitrate for the video?
I am aware that lowering the bitrate will result in a worse picture quality but i need to lower it after all. Is there any way of doing it?

Also is it possible to transcode to h.264 instead of MPEG2? I cannot find a way to force h.264 and disable MPEG2 re-encoding.