IOS Video Compression Swift iOS 8 corrupt video file

This answer has been completely rewritten and annotated to support Swift 4.0. Keep in mind that changing the AVFileType and presetName values allows you to tweak the final output in terms of size and quality.

import AVFoundation

extension ViewController: AVCaptureFileOutputRecordingDelegate {
    // Delegate function has been updated
    func fileOutput(_ output: AVCaptureFileOutput, didFinishRecordingTo outputFileURL: URL, from connections: [AVCaptureConnection], error: Error?) {
        // This code just exists for getting the before size. You can remove it from production code
        do {
            let data = try Data(contentsOf: outputFileURL)
            print("File size before compression: \(Double(data.count / 1048576)) mb")
        } catch {
            print("Error: \(error)")
        }
        // This line creates a generic filename based on UUID, but you may want to use your own
        // The extension must match with the AVFileType enum
        let path = NSTemporaryDirectory() + UUID().uuidString + ".m4v"
        let outputURL = URL.init(fileURLWithPath: path)
        let urlAsset = AVURLAsset(url: outputURL)
        // You can change the presetName value to obtain different results
        if let exportSession = AVAssetExportSession(asset: urlAsset,
                                                    presetName: AVAssetExportPresetMediumQuality) {
            exportSession.outputURL = outputURL
            // Changing the AVFileType enum gives you different options with
            // varying size and quality. Just ensure that the file extension
            // aligns with your choice
            exportSession.outputFileType = AVFileType.mov
            exportSession.exportAsynchronously {
                switch exportSession.status {
                case .unknown: break
                case .waiting: break
                case .exporting: break
                case .completed:
                    // This code only exists to provide the file size after compression. Should remove this from production code
                    do {
                        let data = try Data(contentsOf: outputFileURL)
                        print("File size after compression: \(Double(data.count / 1048576)) mb")
                    } catch {
                        print("Error: \(error)")
                    }
                case .failed: break
                case .cancelled: break
                }
            }
        }
    }
}

Below is the original answer as written for Swift 3.0:

extension ViewController: AVCaptureFileOutputRecordingDelegate {
    func capture(_ captureOutput: AVCaptureFileOutput!, didFinishRecordingToOutputFileAt outputFileURL: URL!, fromConnections connections: [Any]!, error: Error!) {
        guard let data = NSData(contentsOf: outputFileURL as URL) else {
            return
        }

        print("File size before compression: \(Double(data.length / 1048576)) mb")
        let compressedURL = NSURL.fileURL(withPath: NSTemporaryDirectory() + NSUUID().uuidString + ".m4v")
        compressVideo(inputURL: outputFileURL as URL, outputURL: compressedURL) { (exportSession) in
            guard let session = exportSession else {
                return
            }

            switch session.status {
            case .unknown:
                break
            case .waiting:
                break
            case .exporting:
                break
            case .completed:
                guard let compressedData = NSData(contentsOf: compressedURL) else {
                    return
                }

                print("File size after compression: \(Double(compressedData.length / 1048576)) mb")
            case .failed:
                break
            case .cancelled:
                break
            }
        }
    }

    func compressVideo(inputURL: URL, outputURL: URL, handler:@escaping (_ exportSession: AVAssetExportSession?)-> Void) {
        let urlAsset = AVURLAsset(url: inputURL, options: nil)
        guard let exportSession = AVAssetExportSession(asset: urlAsset, presetName: AVAssetExportPresetMediumQuality) else {
            handler(nil)

            return
        }

        exportSession.outputURL = outputURL
        exportSession.outputFileType = AVFileTypeQuickTimeMovie
        exportSession.shouldOptimizeForNetworkUse = true
        exportSession.exportAsynchronously { () -> Void in
            handler(exportSession)
        }
    }
}