Autocompressor

Autocompressor is a free online media compression tool by Auto-Rez Media Technologies that compresses videos, images, audio, and GIFs to a target file size. Depending on the file type you upload, it will be handled differently such that the result serves a similar function to what you uploaded. For example, videos are transcoded to videos, audio files to audio files, images to images, and animations to animations.

From their site:

Reduce the file size of your video, image, audio, or GIF quickly and easily with our free online compression tool. Whether you need to shrink your file to 25MB or any other specific size, our tool offers a simple and intuitive solution. We'll also create perfectly compressed emotes and stickers for Discord. Using the link mode, you can instantly compress YouTube videos and other sites to 25MB. Our advanced AUTO-REZ™ technology achieves higher quality at a given filesize than any other website. Autocompressor will automatically choose the output format based on the input format and the compatibility category you select.

Autocompressor also plans to offer a premium service in the future where the cost is determined by the CPU minutes used during the operation as well as the compression effort tier. For instance, encoding a typical 4-minute YouTube video to 8MB with MP4-Normal will cost about 5 CPU minutes.

Users can create an account to get 1800 CPU minutes free. The site ensures high security for user data by using BCrypt hashes to store passwords.

You can read more on their About page.