video encoder for small video file size?

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Capturing game footage and rendering it. About 30min of footage is 2gb in mp4 format. I need to get this down as my upload speed is awful.

I have 1.5 hour mkv files at 720p which are like 700mb. Can anyone recommend how to get it down to a file size similar to this. I believe in Sony Vegas Vegas you can't render in mkv.
 
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Just to add.... I've tried lowering the bit rate (which is normally around 14 xxxxx or whatever. My quality degrades way to much.

These HD movies I have on my computer are amazing quality relative to the length and file size. How do I get to this.
 
Soldato
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Use Handbrake to convert it to an MP4?

What did you use to capture? I've tried a few of them and the least well known one I found seems to produce the smallest files whilst keeping a reasonable (not the best though) quality is Mirillis Action!

I messed about with a few of them though here
 
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Use Handbrake to convert it to an MP4?

What did you use to capture? I've tried a few of them and the least well known one I found seems to produce the smallest files whilst keeping a reasonable (not the best though) quality is Mirillis Action!

I messed about with a few of them though here

I capture through an elgato capture device. I edit and covert with Sony vegas which takes the captured footage to 2gb in mp4 with around 14xxxx bitrate... 1080 p for 30mim
 
Soldato
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You'll probably have to change the bitrate to get the file size down then, 8000kbps is around standard for 1080P, 5000kbps for 720P for uploading.
 
Associate
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Theres not realy anyway to make the videos smaller without sacrificing image quality try handbrake set it to I think 15ish in video options for hd and go down from there till u find something u like in terms of quality and size
 
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