Multi-view video that is being streamed to a remote device in real time may be encoded. Frames of a real-world scene captured by respective video cameras are received for compression. A virtual viewpoint, positioned relative to the video cameras, is used to determine expected contributions of individual portions of the frames to a synthesized image of the scene from the viewpoint position using the frames. For each frame, compression rates for individual blocks of a frame are computed based on the determined contributions of the individual portions of the frame. The frames are compressed by compressing the blocks of the frames according to their respective determined compression rates. The frames are transmitted in compressed form via a network to a remote device, which is configured to render the scene using the compressed frames.