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Convert One Line Encoding into Multiple Bitrates?

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Hey all, During a live stream event, the internet connection stunk at the location. Due to this, we had to only encode in one bitrate. I wonder if its possible to produce several bitrates from this one bitrate, most likely lower than this one of course for other devices we would like to include. I saw the use of the transform manager, but it doesn't seem to produce multiple streams from one. It just seems to encode video files into smooth streaming files. If so, could you as well point me to a example maybe on how to do this? Thanks in advance! Scott

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