Typically a fraction of the size. Video codecs compress motion between frames far better than a GIF can, so a multi-megabyte GIF routinely converts to a MKV a tenth of the size with no visible loss.
Does the MKV have sound?
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No. A GIF has no audio track, so the resulting MKV is silent. You can add a soundtrack afterward with our video tools if you need one.
Standard MKV video does not support an alpha channel, so transparent areas of the GIF are flattened onto a solid background. Pick the background color in the options panel before converting.
