COMPRESSING WITHIN PREMIERE 6

The most comfortable entry point into the world of compression is from within the user’s editing software. To compress from within Premiere 6 follow these simple steps.

Once you are happy with your final edit, under File on the top toolbar within Premiere choose Export Timeline and then select Save for Web.
Premiere comes bundled with Cleaner 5 EZ, a dedicated software compressor. It has been designed to interface seamlessly with Premiere at the export stage. A choice of preset settings covering web and CDRom delivery will be offered. Make your choice, click on start, choose a destination for your compressed file and then click on Save. It is a good idea to set up a dedicated compression folder to store all of your compressed files. This makes the task of comparing outcomes much easier.
Familiarise yourself with the presets by working your way through them. If your project is large do test compressions on a 30 second portion of your project. Instead of compressing the entire project choose a portion of your project on which to run test compressions. Once you are comfortable with the results you can compress the entire project with the preferred setting.

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Once again, the Premiere Expert Centre is a good place to visit for some extra detail - http://studio.adobe.com/expertcenter/premiere/main.html