Images now make up 74% of the increased web page size and optimizing images can provide greater file size reductions than text optimizations alone. Lossy image optimizations like converting PNGs to JPEG or reducing JPEG quality levels can significantly reduce file sizes by 40-60% or even 80% in some cases while maintaining acceptable visual quality for most users. Guidelines are provided for when and how to apply lossy optimizations like PNG to JPEG conversion or reducing the number of colors and JPEG quality levels.