Ok, I’ll bite even though this is an extremely difficult question to answer fully… and I’m by no means an expert, so others should correct me where i go wrong.
The primary thing you want to consider is your TV’s capability… Assuming your TV was bought recently enough, it probably supports full 1080p… so that’s the max resolution you should be looking at (anything larger than that will just be wasted on your TV (i.e. 4K downloads are worthless to you).
When you play a 720p video on a 1080p TV the TV will actually scale the 720p video up to 1080p… so this is where quality of TV scaler comes into play.
The next really big question in any quality discussion is the source video frame-rate… To give a brief understanding…
TV is generally aired at 60fps
Movies and TV shows though are generally recorded/published between 24 and 30fps
(the big difference here is because live events like concerts/sports/etc look kind of jerky at 30fps, so they are broadcast at 60fps… meanwhile movies/shows, tend to be fine at 30fps and so are recorded there and when broadcast via tv, frames are doubled to get it up to 60fps for the broadcast standard… there is a push with newer digital recordings and such to record everything directly at 60fps)
Knowing the frame rate and resolution… in your case (assuming a TV show and 720p)… and assuming you are using H.264 codec (pretty much the standard now, though H.265 is coming with potentials for halving file sizes)…
You can calculate the following based on the H.264 base encoding profile (.142 bits/pixel, 1.78 ratio):
1280 x 720 resolution
30 fps
= Bitrate of ~ 3.9Mbps
Once you have a bitrate, it’s simply calculating the bits-per-second times the number of seconds of your show to get the video file size expected…
For example 3.9Mbps * 42min video = ~1.24GB
Doing quick maths and circling this all back… 42 mins of video would be about the following sizes:
720p/30fps = 3.9Mbps = 1.24GB per 42 min show
720p/60fps = 7.9Mbps = 2.49GB per 42 min show
1080p/30fps = 8.9Mbps = 2.8GB per 42 min show
1080p/60fps = 17.8Mbps = 5.6GB per 42 min show
4K/30fps = 35.5Mbps = 11.2GB per 42 min show
4K/60fps = 71.1Mbps = 22.39GB per 42 min show
Anything smaller than these, is doing some kind of compression whether it is variable bitrate encoding or some other mechanism and therefore is less than optimum for those resolutions on your display. (whether they are “ok” to you is obviously a deeply personal opinion)
HOWEVER, there is an IMPORTANT aspect missing here… namely AUDIO…
I’ll spend less time here, as it’s pretty “wild” out there as to what audio qualities are available… however there are some important things to note…
First, a single file (mkv/mp4/etc) can encapsulate MANY audio streams… so you can have mono/stereo/5.1/lossless/etc all inside a single file… each stream obviously has file size, and therefore it increases the size of the overall file the more audio streams you have… Additionally a file can contain multiple languages which may each have multiple quality streams as well… so you can see you can add a TON of file size depending on how many audio streams are embedded in the file… in fact, oftentimes most of the space on a Blu-Ray is audio files if it is an international movie…
To give you some ideas of audio file sizes, here are some of the basics
Typical MP3 stereo = ~128kbps (varies dramatically, 128 is middle of the road) = 40MB per 42 min show
TV broadcast 5.1 = ~448kbps (some are lower, some higher) = 141MB per 42 min show
Dolby Digital 5.1 = 640kbps = 201MB per 42 min show
DTS Digital Surround 5.1 = 1.524Mbps = 480MB per 42 min show
Dolby Digital Plus 7.1 = 4.736Mbps = 1.49GB per 42 min show
Dolby TrueHD (lossless) = 18.64Mbps = 5.87GB per 42 min show
DTS-HD Master Audio (lossless) = 24.5Mbps = 7.72GB per 42 min show
(Note: Dolby & DTS specs were taken from Blu-Ray specification, there are probably other specs too)…
Unfortunately, the “scene”/“uploaders” haven’t really standardized a way to display audio contents for video files yet, so you have to do a bunch of reading of the NFOs of the files you download to figure out what’s in it generally…
All that said… let’s say you assume that there is only a single stream of audio in a file, and you have a 5.1 sound system, and a 720p TV… Then the candidate files you would be looking for would be in the range of:
Dolby 5.1 (201MB) + 720p/30 (1.24GB) = 1.44GB
DTS 5.1 (480MB) + 720p/30 (1.24GB) = 1.72GB
Obviously this is a much longer answer than what you were probably looking for… so if you’re just skimming…
For a 42 min show…
for 720p I would set a minimum of 1GB and max of 4GB (to allow for 60fps or many audio streams)
for 1080p I would set a minimum of 3GB and max of 10GB (to allow for 60fps or many audio streams)
Anything smaller than these minimums has some “extra” compression that is probably degrading the picture quality and so you would want to avoid these unless file-space is your primary concern and you’re less concerned with video quality.
If you have 7.1 sound or want lossless audio and want it in your files… I would suggest looking through files manually to figure out what audio-tracks are included as many commerical Blu-Rays don’t include 7.1 surround yet and most encoders don’t do lossless audio due to filesize…
Hope that helps… feel free to ask follow ups and I’ll try and clarify this post.
Edit 1: Also, subtitles in some formats are included in the file container itself and can therefore add to file size, though usually very small amounts compared to the main audio/video portions.