title: Reducing video size with same format and reducing frame size
body: <p>This question might be very basic</p>
  
  <p>Is there a way to reduce the frame size/rate of Lossy compressed (WMV, MPEG) format, to get a smaller video, of lesser size, with same format.</p>
  
  <p>Are there any open source or proprietary apis for this?</p>