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Check your encoder settings record tab> file format >configure

This is from the help file:

The Quality setting when set at 50% is designed to produce visually lossless output. You may increase this value to further refine the output or lower it as necessary to reduce hard drive space used. When the encoder is used for streaming, you should enable the Rate control option for Max bitrate. This option will insure that the outbound network bandwidth falls below a specified value in order to provide a smooth streaming experience. You may also select a Maximum keyframe interval, also known as the Group of Pictures (GOP). When streaming, using a higher value is acceptable as it raises the quality/bandwidth equation. When recording, however, this value directly affects file seeking (random access) times and efficiency and should be kept relatively low at the expense of using additional storage resources. B-frames offer further advanced compression technology, at the expense of some output latency (delay). Under Advanced you may select an encoding Preset. The "faster" presets will use less CPU, while the "slower" presets will produce a higher quality output. Use the Zero frame latency option along with 0 b-frames in order to produce encoder output that is closest to real-time, which may be desirable for streaming. However if you can tolerate some latency, leaving this option un-checked will produce significantly higher quality output.