A video stream of a scene for a virtual reality or augmented reality experience may be captured by one or more image capture devices. Data from the video stream may be retrieved, including base vantage data with base vantage color data depicting the scene from a base vantage location, and target vantage data with target vantage color data depicting the scene from a target vantage location. The base vantage data may be reprojected to the target vantage location to obtain reprojected target vantage data. The reprojected target vantage data may be compared with the target vantage data to obtain residual data. The residual data may be compressed by removing a subset of the residual data that is likely to be less viewer-discernable than a remainder of the residual data. A compressed video stream may be stored, including the base vantage data and the compressed residual data.