I've tried using Quick Time to reduce a 25MB MP3 file. The smallest I could get it to was 15 MB. IWeb suggests going through IMovie, but that seems to make it bigger.
Is it a mono or stereo file? Actually, what settings did you use and I'll try to tell you which ones to lower to give the smallest file size. Just know that the smaller you make the file, the lower the quality of the file will be.
Is this a speech or audio file?
If it is speech you can change it to mono and use the lowest sample rate.
If it is audio you would have to split it up and/or make it available as a download in M4A format.
Have you tried uploading it in its present form to see how long it takes to download in the browser?
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How do I compress an MP3 file to 10 MB?
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