Large Files. Please Help!

Puzzled Films

Active member
So I have completed my first project. (Yay!). It has been burned to a master and I have authored DVD's with no problems. I am having a problem with getting a smaller size file for use on the internet. I have tried rendering as mpg4, avi, rm & mov but have gotten either the same size file or an even larger file. It is a 3 minute music video that was made part of a 48 Film Competition. The original file size is 160MB.

The only way I have thought of doing this is to use DVD SHRINK to get a small VOB file and then change the VOB EXTENSION to MPG4. This will cut the quality tremoundously. Please help me find a way to get a smaller file size without losing quality.
 
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