A video signal is coded using predictive coding. The degree of quantisation that is applied is varied as a function of measures of predictive power, the idea being that a picture that is useful as a predictor for other pictures is worth coding well. These measures are formed in a pre-analysis of the pictures to obtain, for each macroblock analysed, a measure that depends on its similarity to a region for which it is a potential predictor. Preferably these measures are cumulative.