Video compression formats and techniques

trueindie

Active member
Why do some job requirements say "strong knowledge of video compression formats and techniques required?"

I've been making videos for some time. I don't know much about compression. All I do is choose the format I need to use on premiere before I render. What is it that I need to know about compression formats that these editor job positions are talking about?
thanks.
 
For one thing, it would certainly be helpful to know how to get a given format down to the smallest possible file size while maintaining acceptable quality.
 
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