I know that in exporting images, if I use an indexed color format when I save (such as GIF or PNG with indexed color mode), I can dramatically reduce the file size of the resulting export. My question is if I have a video file that is full of color and filter it so it contains less unique hues, will the resulting file be smaller? (I have heard that some video compression methods will compress black and white video less than color video.)
I am creating a video for a company's website and they are using it as a video background. They want it to look as good as possible but be as small a file as possible. If I limit the colors to their brands colors and a couple necessary ones, I'm wondering if that will help.