Note bene: I realize this is an immensely complicated question with about a million levels of nuance that I\'m trying to reduce to a single number...
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It will vary dramatically depending on the content of the source videos. I'll get to that in a bit.
640x360 is not that large. 512kbps is very reasonable and arguably standard. Maybe 768kbps if you are really interested in quality.
How is this possible? A simplified answer: There are a couple of techniques and facts about video compression that make this possible:
It is all wildly more complex than that, with zillions of different approaches, techniques and algorithms within specific CODECs and between CODECs to make this happen.
So, back to the "It will vary dramatically depending on the content of the source videos" comment: The compression ratio you'll see, and the resulting quality, will depend significantly upon:
Example: A video of a door in a room (like a security camera) with one key frame every ten minutes is going to have an amazingly high compression ratio. My back-of-the-napkin calculations put that scenario at 15,000:1 compression.
Since you are starting on a large video encoding project, I would recommend a couple of things to determine what your compression ratio is going to be:
Changing the parameters of the encoder to make the videos smaller can have other impacts too:
It's a big complicated subject. Good luck. My experienced "thumb-to-the-wind" test says you'll be more than happy with 512-768kbps for your project.