Abstract: An integrated multimedia encoding system is disclosed. Multimedia encoders which are capable of adjusting bit rates receive multimedia data to compress the data. After compressing the data, the multimedia encoders adjust the bit rates of the elementary streams responsive to a control input. Bit rates are increased or decreased using delays or, for video data, by allocating more or less bits to each macroblock, frame or group of frames. A unified memory module is coupled to the multimedia encoders to store the multimedia elementary stream data, the Program or Transport stream data, and data from other sources as needed. The unified memory is capable of adjusting storage allocations responsive to the realtime requirements of the incoming multimedia streams and the outgoing Program or Transport stream data.