You can attempt to sacrifice some quality for a smaller file size. Look in advanced settings and see if you can use lower quality settings and/or resolution (widthxheight).
You may use a Video Converter which could let you adjust settings(frame rate, bite rate) to control the file size.
You may free download Daniusoft Video Converter to have a try:
http://www.daniusoft.com/video-converter.html