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To reduce file size in Premiere Pro, click the "export a smaller file size" button and adjust settings to reduce file size without losing quality. Change format from h.264 to h265 for higher quality. Set the file location and name, then click "Match source" in the video tab. Enable two boxes in the "more" settings and set performance to high. For bitrate encoding, choose vbr1 pass for small file size and high quality. Lower bitrate from 50 to 10 for estimated file size reduction.
