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I'll just list the steps that I'm taking, and then ask my question:
I export my videos at 1080p. For my Format, I have MP4 - H.264 selected. Beneath the Format drop down box, there's a little slider Quality, and here's where my question lies. You can basically choose between three options: Low, Medium, and High. Changing this obviously changes the file size, and it looks like the only other thing that changes is the bitrate: 5Mbps, 15Mbps, and 32Mbps, respectively.
I've tried exporting videos at both low and high and compared them side by side, and to be honest, I see no difference. Can anyone tell me what the real difference is, aside from the bitrate number changing?
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If you see no difference, you might as well go for the one that creates the smallest file. Assuming you're going to distribute or upload your video.
If you're going to re-use the video as, say, source video in another project, it might be worth upping the quality and creating a larger file.
I usually leave the quality set to the default setting when I'm outputting my finished video. There's usually not much to be gained to increasing the bit rate.