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.
The Magisto is not the first video editing app, but it differs from others with its powerful AI. Numerous mobile application development company has started building apps that look like these so-called video editing apps. Let’s see its history.
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
- Website:- https://www.magisto.com
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.
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.
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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
Based on Type
Based on Regions
- North America
- The Asia Pacific and Latin America
- Middle East & Africa
Magisto Alternatives & Competitor Video Editing Apps
It is essential to know about your competitors before launching your app to market. Know about their apps’ skills, features, qualities, or weaknesses. Let’s see some alternatives to Magisto and their features-
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.
- 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.
It is one of the most powerful video editing apps ever created. GoPro creates it.
- 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-
- Sign in
- Email verification
- Create a video
- Multiple themes
- Upload custom music
- Auto-selection of images or videos
- My account
- User actions
- My album
- My movie
- Variety channels
- 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
You should always have an excellent team to develop an app like Magisto. A good team can work effectively and efficiently. Let’s see those positions that will need to develop a video editing app like Magisto-
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.
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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.
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.