I have a very large pixel sky and pixel cloud strip which moves across the sky.
When I delete them both my Est, Image memory goes from 116.3 mb to 71.3 mb, is that really bad?
You should be aiming to use smaller images and keep the memory usage below 100mb. At that usage your game is probably going to be a bit laggy soon on some platforms.
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The basic formula is widthxheightx4, because regardless of the type of image (jpg,png,etc) they are converted to a bitmap in RAM. Depending on how old the GPU is, a power of 2 calculation could also be be needed before calculating RAM usage.
Image is 2000x900 PNG
RAM use would be approx. 2000x900x4 = 7.2MB
If power of 2 applies then it would be: 2048x1024x4 = 8.4MB