What is the best way to transcode iptv streams from a higher to a lower bitrate with subsequent broadcast to the Internet?

Question

Video broadcast

There is a server with good internet. I want to hang on it the conversion of iptv to a small bitrate.
Iptv is represented by an m3u file with links like http://11.22.33.44:1234/udp/111.222.333.444:5000

Answer 1

ffmpeg, vlc?