Two thoughts
First, you could use the Apple TV preset – it’s an MPG4 h.264 file and should look decent.
Technically, the h.264 codec can be in one of three major architectures – MOV/Flash/MPEG4. If it’s in QuickTime (MOV) that’s fine – but you should check with the festival to see if they’ll accept it. They may be working with a hardware playback mechanism that only works with true mpg4 files.
Ok, settings.
QuickTime movie.
Encoder tab – Video Settings: Change format to h.264, current fps, Best Quality (multi-pass) and set the Data rate at 20,000 (far more than you need; you probably can get away with 8mbs)
Audio settings; AAC, 48k stereo, 160kbs
Frame controls: Leave the frame controls to automatic – it should properly detect and handle interlacing
Filter Controls: don’t touch
Geometry Controls: Set the frame size to 100% of source
This should leave you with something that looks nearly identical to the original.
Best,
Jeff G
Certified Master Trainer | Adobe, Apple, Avid
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