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To reduce the file size in Premiere Pro, click on the export button, name the file, set the location, and change the format to h.265 for higher quality in the same size. Make sure presets say custom, then open the video tab and click on Match source for correct settings. Enable two boxes, set performance to high, and set bitrate encoding to vbr1 pass for smaller size and high quality. Lower the bitrate from 50 to 10 for a smaller estimated file size.
