For the web, you might try a preset for Vimeo or YouTube. The whole process is outlined on my blog: Exporting media using Adobe Media Encoder CS5, CS5.5 and CS6. For festivals, you'd need to know their precise specifications as they vary widely. For example, here's the requirements for output at Sundance: We accept Film prints in 16mm or 35mm format, digital video on Sony HDCAM tape and DCP. For 35mm film prints, we screen 24fps in aspect ratios of 1.37, 1.66, 1.85, or 2.39. We accept sound formats of mono, stereo, Dolby SR and Dolby SRD (Dolby Digital). For 16mm, we accept prints in 1.37 aspect ratio with mono optical sound. For Sony HDCAM tape, we accept HD 1080 format in the following frame rates: 59.94i, 23.98psf, 25p, and 50i. If your video image is 4x3, 1.85, 1.66, or 2.35/2.39/Scope you must have it pillarboxed or letterboxed during the lab transfer for it to be screened without any image distortion. For HDCAM sound, we require LtRt or Dolby Pro Logic compatible stereo mixed tracks on channels 1 & 2. Optional: DolbyE onchannels 3 & 4 (not all theaters are equipped for DolbyE playback). DCP must be DCI compliant, keys must be open for window specified by festival, and HDCAM or 35mm backup copy must be provided in addition. DCP will only be accepted with prior approval. Please note that these specifications are subject to change each year.
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