Method, system and computer program product are provided for adaptively encoding in hardware, software or a combination thereof a sequence of video frames in real-time. Pre-encode perceptual activity measurement processing is employed to derive statistics on each frame of the sequence of video frames to be encoded. The statistics are used by variable bit rate logic to obtain a number of bits to be used in encoding each frame. The number of bits to be used is provided to a single encoding engine, which encodes the sequence of video frames and produces a constant quality, variable bit rate bitstream output. The pre-encode processing employs a regulator as the global data flow control and synchronization for the encoder. Perceptual activity analysis on each frame of the sequence of video frames can derive information on, for example, shading, scene change, fade, color, motion and/or edge presence within the frame. Voting gives greater weight to the presence of certain characteristics within the frame.