How to Make a Video Editing App Like Magisto? [Development Cost & Features]
We used to need expensive DSLR cameras to
take beautiful images in the past. However, the process got simple once
smartphones entered the market and gained access to fantastic photographic
qualities, previously only found in more expensive cameras. Video
Editing App Like Magisto has won the market, and many companies have developed
look-alike apps.
A few years ago, for video editing, we used some software on
our laptops and PCs to edit videos. It took a long time and was tedious. Due to
this fact, it was challenging to comprehend those instruments and begin using
them. Thanks to video editing apps like Magisto, this laborious procedure has
become as easy as going for a stroll. So in this article, we will discuss video
editing apps like Magisto. What will their development cost & features be?
First, see what the Magisto app is.
What is a Magisto App?
Magisto is an artificial intelligence-based platform that
helps in video creation and editing. When someone uploads pictures and videos
to Magisto, its artificial intelligence begins analyzing its footage. The
footage goes through three levels. They are- visual analysis, audio analysis,
and storytelling. Simultaneously, it has integrated AI technology to make it
appear as a flawless application.
The visual analysis is responsible for checking your footage
for camera motion, in-frame action, tracking, object detection, and more. It
will help you to understand which part of your Video is visually attractive and
helps with stabilization, color corrections, and other edits required in the
footage. The second level is audio analysis, which is responsible for detecting
speech, classifying different types of audio available in uploaded footage, and
helping these elements to fit in the Video to make the Video perfect.
The third and final level of Magisto is Storytelling which is
responsible for the final cut of your Video. After going through all the above
levels with selected styles and templates, the editing process of your Video is
completed. The app doesn’t save any analytical information on its server. But
it is temporarily stored so that you can see your work. After that, you can
delete it. It is just a multimedia messaging app like Snapchat.
Magisto at a Glance, Video Editing App
-
Founder:- Dr. Oren Boiman (CEO)
and Dr. Alex Rav-Acha (CTO)
-
Founded:- In the year 2009 as SightEra
-
Type of service:- Video Editing
-
Users:- 1,000 million users
-
Operating system:- Android
What is the Business Model of Magisto App? [ Free + Paid
Plans]
The business model of Magisto is Freemium. Let me tell you,
for those who don’t know this Freemium plan. It is a combination of free and
premium plans. Free plus premium is known as Freemium. It is the most popular
business model that most companies follow nowadays. Under this business model,
you will get minimum services for free. But for additional service, you have to
pay.
You will get the essential tools in video editing apps like
Magisto. But, if you want advanced features for video editing, you have to take
a premium subscription which many mobile app developers integrate. Under the
premium plan, you will get services like HD videos, longer videos, premium
themes, etc. You will get advanced customization and better AI integration for
video editing. It is beneficial for professional users to create high-quality
videos within a few minutes.
How Does a Video Editing App Like Magisto Make Money?
To earn money from video editing apps like Magisto, you can
follow the same way Magisto follows. There are plenty of ways to make
money from an application. You can also take help of top lifestyle app
development company
The Magisto follows two following ways to make money:
1. In-app Advertisement
Under this method, you can make money by charging the
companies to advertise their products on your application. In-app advertisement
targets potential customers with high-end data tracking of the behavior of
users. It is one of the popular forms of mobile marketing.
2. Freemium
It is another popular form of making money from video
editing apps like Magisto. Many companies follow this monetization method.
Under this monetization method, companies first provide a few services for free
as a temptation. After users get addicted to it, then companies show their
advanced features. Users have to pay for these advanced features. They have to
buy a subscription from companies to use it.
Video Editing App Development: Market Statistics and
Opportunities
According to a report, it is anticipated that the market for
video editing mobile applications will reach $25 billion by 2022.
Additionally, the Global Video Editing Software Market is anticipated
to reach $1.1 billion by the end of 2025, growing
at a CAGR of 4.4 percent throughout the projected period.
Moreover, video streaming apps like Netflix has gained a huge
market. These are among the top-notch OTT platforms.
Several features or tools can be included in your app,
like converting file formats, re-sequencing clips, making and
publishing stories, various special effects, filter-based videos, creating
templates, and adding a translation.
The video editing app market has various opportunities and
advantages. Let’s see those advantages-
- Magisto
clone app can significantly simplify your editing procedure with all those
valuable features or tools.
- These
tools allow you to change file formats, reorder clips, merge clips, trim
clips, adjust brightness, add soundtracks, add subtitles, crop and rotate
Video and apply other special effects to a video.
- The
professional will benefit from developing digital post-production and
editing videos apart from image capture.
- You
can also provide high-quality Video and audio projects to your targeted
audience with the help of audio and Video processing tools.
By 2025, the size of the global video editing
software market is anticipated to reach $1.1 billion, expanding at
a rate of 4.4 percent CAGR.
Let’s Discuss Your Project
Get a free consultation and let us know your project idea to
turn it into an excellent digital product
The market for mobile app development has
increased as a result of the boom in smartphone usage. The availability of free
tools and software that can be obtained without charge from the internet to
perform basic mobile video editing is one of the key issues limiting the market
growth. Although you must buy the complete edition of the software to undertake
advanced level editing with additional features and functionalities, such video
and audio software tools are only capable of performing basic level editing.
Let’s now examine how the market is distributed or segmented depending on
several factors.
Based on Application
- Commercial
- Personal
- Others
Based on Type
- On-premise
- Cloud-based
Based on Regions
- North
America
- The
Asia Pacific and Latin America
- Middle
East & Africa
Magisto Alternatives & Competitor Video Editing Apps
1. iMovie
It is developed by the AV foundation and is a flagship
product of Apple. Its features are-
- It is
available on iOS and Mac os for free.
- You
can add animated audio tracks to the Video.
- It
has 14 different templates.
- It has
a Slow down and speeds up feature. Under this feature, you can customize
the speed of a video.
- You
can extract audio from Video easily.
2. Viva Video
It is the biggest competitor of Magisto and was developed by
Video. Users from Android, iOS, and Windows can
use it.
Features–
- It has
numerous templates, themes, filters, stickers, text styles, and
transactions.
- It is
available in both free and paid versions.
- You
can remove the watermark and shoot unlimited videos in the paid version.
3. Splice
It is one of the most powerful video editing apps ever
created. GoPro creates it.
Features–
- It is
available for free.
- It
allows you to record short or long Video
- While
recording a video, the voice-over option is also available.
- You
can synchronize the sound effects with action on the screen.
- It is
simple to use.
Magisto Clone App Development Features
It is the primary factor that affects your development cost.
The cost of developing an app like Magisto increases with the number of
features included in the app. Let’s see basic features comprise of two panels-
User Panel
- Sign
in
- Email
verification
- Create
a video
- Multiple
themes
- Upload
custom music
- Auto-selection
of images or videos
- Share
- My
account
- User
actions
- My
album
- My
movie
- Subscriptions
- Coupons
- Variety
channels
- Settings
Admin panel
- Login
- Dashboard
- Manage
themes and editing styles
- Manage
coupons
- User
Management
- Manage
subscriptions
- Monitor
Reviews
Additional Features of Magisto Clone App Development
- Real-time
Analytics
- Incorporate
Payment Gateways
- Artificial
Intelligence
- Sound
Effects
- Stickers
& Filters
- Social
Media Sharing
Structure of the Photo & Video Editing App Development
Team
1. Project Manager
The product manager is responsible for guiding and managing
the team.
2. Android/iOS developer
The developer is the backbone of the whole process. They
develop the app for you. So, it is necessary to keep a developer on your team.
The developer should know about both domains.
3. Back-end Developer
Back-end developers know server-side programming languages.
4. UI/UX Designer
It establishes the connection between the users and the app
through its design.
5. Graphic Designer
It handles the visual aspects of the mobile app.
6. QA Testers
They will ensure that every function and feature perfectly
works according to the standards of the market.
Looking For the Best Video Editing Application Development?
DreamSoft4u is here to help you. You can take the help of
our professional developers to expand your business and gain the best video
editing software.
Cost to Develop App Like Magisto
Let’s see a rough estimated cost to develop an app like
Magisto. If you wish to create an app with basic features for a single
platform, it will cost you around $10,000-$30,000. But, if you
desire to create an app with advanced features for both platforms, the cost
will be approximately $50,000. The price will increase with
features.
Conclusion
In the article, we discussed a video editing app- Magisto.
We covered all the necessary points required to know about the Magisto. It will
help you to develop a video editing app like Magisto. We hope that
the article will be helpful for you. You can also visit dreamsoft4u.com to get
more details on how one can develop a video editing app quickly.
Article source: https://www.dreamsoft4u.com/blog/how-to-make-a-video-editing-app-like-magisto
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