Bitrate or Bit Rate is the average number of bits that one second of video or audio data will consume. Higher bitrate means bigger file size and generally better video or audio quality while lower bitrate means lower file size but worse video or audio quality. Some bitrate examples in common video and audio files:
MP3 about 128 kbps (kilobits per second)
VCD about 1374 kbps
DVD about 4500 kbps
DV about 25 Mbps (megabits per second).