Delete a location from time machine

I have a folder in ~/Downloads/Media with lot of media files backed up in time machine. Since I moved the files back and forth it has taken so much space in my external drive. Can anyone tell me a way to remove the location from Time Machine completely? I want to remove the location permanently.

Solution 1:

Open System Prefs > Time Machine, then click Options…
You can add exclusions to the list, by clicking the + & navigating to the location, or simply by dragging any folder/drive etc into the box.

It would appear that anything already backed up will stay in the older backups until eventually it just 'falls off' over time, as Time Machine cycles through your drive space.