So I downloaded this 7GB movie from the https://archive.org. I wanted to keep it, but 7GB. I was going to use a program called Handbrake that I thought I had on my system but somehow didn't. So I downloaded and installed it from here: https://handbrake.fr
I've tried using this program before to make files smaller without losing quality. I got it working once, so now I just have to remember what I did. Only this time I noticed something I think is new. Or at least I don't remember this feature from previous versions.
And that is the Presets. So I opened the file in Handbrake. You can navigate to it, but I prefer the drag-and-drop method.
And then click on the last icon across the top that reads Presets. This opens up the Preset menu options on the right-hand side of the program.
I choose HQ 720p30 Surround has my output. I also changed the folder to save the file in. Bottom of the program. And Then I clicked on the Start Encode button. It changes to a Stop and Pause button when the encoding is taking place.
Then it's just a matter of waiting. In my case, 5.5 hours. Depending on the size of your file, the output selected and the speed of your system, output times will vary. The result a 7.31 GB file was knocked down to 3.79 GB. I was shooting for 1 GB, but at least it works.