> I just found this MediaReduce compression software

No you didn't, you work for MediaReduce I guess.

> Do people pay for file compression

Why would we when we have imagemagick, xz/zstd/tar/..., ffmpeg, etc.

> just to understand if file compression is really a big deal

According to Wikipedia, the first algorithms were created in the late 1940s and early 1950s. It's "kind of" a big deal. It's so big I'm surprised you haven't heard about it before.

Oh yes i know this, i wanted to know if people pay for file compression. Checking google shows lots of these companies like FreeConvert, Clideo and obviously VEED