I have used "HD Video Converter Factory Pro 3" before (several years ago, maybe 4-5) but wasn't happy w/ the quality playing on WMP.
Their hype says:
HD Video Converter Factory Pro is equipped with advanced High-Definition (HD) video conversion technology. It can help users convert videos from Standard-Definition (SD) to High-Definition (HD) like HD MP4, HD MKV, HD AVI, HD MTS, HD TRP, even 4k standard and also enables users to cut down the video size (convert HD videos to SD videos).
http://www.videoconverterfactory.com/hd ... converter/
This HD video converter enables you to get the output file in a smaller size while keeping the original high definition.
There is a chart there showing their size reduction per basic file type.
They do offer a free DL if interested.edit:
Here are some reviews toohttps://www.google.com/search?q=HD+Vide ... gws_rd=ssl