Which of the following best describes the purpose of video compression?

The purpose of video compression is primarily to reduce the file size of videos. This is essential for several reasons, including making it easier to store large video files on devices and facilitating quicker and more efficient transmission over the internet or other networks. By using various algorithms, video compression techniques eliminate redundant data and lower the overall size while attempting to maintain an acceptable level of quality, which is crucial for streaming or sharing videos without requiring excessive bandwidth.

Other choices do not directly align with the fundamental goal of video compression. Enhancing video quality or increasing resolution typically involves more data rather than reducing it. Converting videos into different file formats is a separate process that may or may not involve compression, and increasing playback speed changes how a video is experienced but does not inherently relate to reducing file size. Therefore, the focus of video compression is best captured by the aim of decreasing file size for ease of use.