Texture compression not working

I have a medium sized project with lots of textures and I wanted to go and optimize everything and shrink the file size of the build. I found out i had 800MB of textures from the editor log and i crunched all the textures to 40% and decreased the max size to 2048-1024 depending on how big the model was.
When i build the game, compared to the uncompressed version, the game is only around 6MB or so less than the original.

My textures used to be anywhere from 2MB-10MB per texture and now they are all only a few hundred KB yet when I build the game, I see a very negligible size difference.

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