If you are looking for the best "bang for your buck" in terms of size and quality, these modern formats are the industry leaders: Best compression format for videos : r/compression
Sound is often converted to mono or low-bitrate HE-AAC to save space. Top Modern Compression Codecs highly compressed movies 10 mb new
You will likely see "blocks" (pixelation), motion blur, and a lack of fine detail. If you are looking for the best "bang
To reach 10 MB, resolutions are often scaled down to 320x240 or lower. highly compressed movies 10 mb new