A summary of OTT Video News – Deals, Launches and products. Netflix is upgrading its encoding for programming and will cut its bandwidth requirements by up to 20%. US magazine Variety was given a live demo of Netflix’s updated encoding technology and says it will adjust the streaming bitrate based on the type of content being streamed as well as the user’s bandwidth. Before this, Netflix would reduce bitrates down to 235 Kbps for slower connections, but it says it would still aim to provide a top-shelf stream with 5.8 Mbps bitrate for all programming. Live action programming requires higher programming but animated shows can be reproduced in 1080p at as little as 1.5 Mbps. It could be a new…