With the whole world that is becoming digitalized and modern, technological advancements are also getting upgraded. While talking about smartphones, these devices never miss any chance to impress their users and provide useful updates time-to-time. Right from features like calling, taking pictures, storing them, setting alarms, etc. to giving a platform to extra-ordinary apps, they always stay ahead.
These days, video editing apps are shining bright and loved by users due to their fantastic features and privilege to edit the videos according to the user’s choice. Users are just needed to record the videos and they can take the help of video editing apps like Magisto to add anything into it or making it better.
The emergence of some of the popular video editing apps such as Splice, iMovie, Quik, Adobe Premiere Rush, etc. has made other businesses encouraged to invest in the same sector to start their business. To get Video editing app development services, businesses first should get proper knowledge about it such as required features and estimated cost of mobile video editing app development. Reading out this blog will help them a lot, let’s get dive in-
Video Editing Apps Like Magisto- The Overview
The famous video editing app Magisto is well-known for improved video editing and storytelling utilized by app users. It was founded by Dr. Oren Boiman and Dr. Alex Rav-Acha in 2009 and at that time, it was known as SightEra. It reduces the time taken in the method of video editing. The video maker and editing app earned around $5.5 million as funding from Magma Ventures Horizons and Ventures partners in 2010. Publicly, the owners of the Magisto app launched the platform on 20th September 2011 and got an amazing response from the user base. With the passing years, it has got a huge customer base as well as high revenue.
You must know that these video editing apps are used to perform tasks like recording and editing videos according to the user’s preferences. These free-to-install apps are useful for people who want to edit long-timing videos. These video editing apps include a broad range of exciting and appealing effects, stickers, music & songs, emojis, and others to make the video interesting. Users can trim the video as per the time they want. To get access to premium services, the app provides a subscription for general and professional users. The paid subscription will unlock different new features such as loner videos, HD videos, premium and attractive themes, and many more. With the subscription, users can also have improved AI integration and advanced customization to have better video editing.
How to Use the Video Editing Apps?
Before getting to know about “How to make video editing app”? know about its working steps. It will help you to understand the aspects that should be included in the video editing app. Have a look below-
- Open the app and choose the video you want to edit from the phone gallery. If you want, you can record the video through the app camera and can edit it.
- Look at what you want to name your video, how do you want to make it effective? What shots do you want to have?
- After deciding, start the process of editing, trim the video, add effects, stickers, emojis, etc. You can also add another video clip to your existing video.
- Add transitions as per the suitable category after trimming the video. And titles are also important that describe the credit of people in the video.
- Add effective audio to enhance the quality of your video. Fixing color problems or developing appealing looks will make the video worth watching.
- After everything gets done, render the video and get the final output.
Statistics and Growth of Video Editing Market Worldwide
As per the latest reports, the present growth of video editing apps will have a drastic change in comparison to the last year. The video editing app market size worldwide is predicted to have a continued revenue growth rate and rise between 2021 and 2027.
The video editing software globally has reached about $779.8 million in 2018 and now, it is forecasted to evolve at $937.7 million by 2025. This enhanced expenditure of video content by users is one of the key drivers for the video editing market growth.
The reason behind this growth is the impact of the COVID-19 pandemic that has brought extraordinary differences in the number of internet users leading to increased video editing software users. As we can see in the below graph, it is projected that the video editing market will rise high in 2025 that is way better than the numbers in 2018.
The Best Video Editing Apps Presented in The Market
Businesses who are eagerly waiting to step into the market and launch their own video editing app can take references from already existing apps. With the proper knowledge, they can develop video editing apps like Magisto and can enjoy the benefits. Let’s get to know about more apps like this-
Must-have Features In A Video Editing App
Features are an integral part of adding to video editor app development solutions. Businesses need to be careful and attentive while choosing the app features as it highly affects the cost to develop a video editing app. Depending upon the different panels, different features are added into them, have a look-
Users are the main focus of every business; hence they should get the privilege to have appealing features in the video editing app. Get to know below what are those features?
Sign-up or Login
Users must be registered on the app via submitting details like name, contact number, email, etc. After getting registered, they can log in to the app with the provided credentials. They also have the option to sign-up through any of their social media accounts.
Create or Add Video
It depends upon the users if they want to record the video immediately or want to use any of their pre-recorded videos. Video editing apps ask users for access to their phone gallery.
Multiple Editing Styles & Themes
Users have the option of adding attractive themes and styles to their video for making it impressive and appealing for users. They can also have customized themes, and if they want advanced themes, they must take an app subscription.
Add Custom Song & Music
In the video, users can put their favorite song or music, whatever they want. Video making and editing apps also provide some songs, but users can upload the song from their phone gallery as well.
With the integration of social media accounts within the app, users can post the video directly on the social sites after creating them. They can also share them with their friends, and they don’t need to find them out from the gallery.
Save Videos in a Private Album
It is completely the choice of users where they want to save the videos on their phone. They have the option to create a private album for their videos if they want to hide it from everybody else.
Users need to create their profile or account on the app and must maintain it. They have all the right to edit the profile whenever they want.
Coupons and Discount
It is for the regular users of the app, or the users who share the app download link to others can get the discount or coupon code.
While having Magisto clone app development services, this feature must be added to the app so that some of the users who have taken app subscription can avail most attractive elements of the app.
Every app need someone who can monitor and control all the activities over the app. That’s what we called an admin, and this role must be provided with some of the essential features, check out these-
Sign-up or Login
All the on-demand app development solutions have this feature as it is necessary for users as well as admin to sign-up for the app to ensure the safety of others. Admin must provide significant details to register the app.
It is something that the admin needs to monitor and analyse all activities of users. Admin can view, edit, or remove all pages or views, handle or generate templates, and can have access to non-admin users through the dashboard.
Admin can see the profile of users, create, or delete any user’s account, and manage individual security settings via this feature.
Themes & Editing Style Management
Admin can provide customized themes and exclusive editing style access to the users. He manages all the layouts, elements, buttons and can update or add new themes to the user’s account.
Admin has the responsibility to create and distribute app coupons among users. How much discount in the coupon will be provided to the users, is also determined by the admin?
The addition of advanced features is surely a prime reason why video editing app development costs would go higher than expected. Thus, ventures need to comprise only exclusive features while following the emerging technologies. Here are some of them-
Add Sound Effects
Users should be allowed to add their preferred effects or sound in the video, they should be allowed to add a track from their music library and add sound filters like a storm, rain, voice of birds, and many more.
Real-time Reports & Analytics
Through this feature, the app collects real-time data of users from data servers and some APIs to create a report to know the details such as app subscription users, how to create videos by users, and a total number of users, etc. to have the records.
Filters & Stickers
Users often compare the app they are using with the other apps in the market, that time it becomes a necessity for the app owner that their app has enough filters, effects, and stickers to prove better than others. In this reference, ask your hired video editing app developers to add more exciting and fun elements to your app.
Add Segments into a Single Frame
Through this feature, users are allowed to record videos of different places or trips and combined them in one place to make them more understandable and sensible to viewers.
Hire mobile app developers who have expertise in developing the mobile app integrated with the latest technologies such as AI. Mobile apps integrated with AI follow a simple approach to attract users and get them engaged with the app. It also facilitates users to auto-select videos and images to make a long video.
How to Make Money through Video Editing Apps Like Magisto?
Not one, there are plenty of ways through which video editing apps can earn huge revenue. Below are some popular strategies you can get benefit from, keep scrolling-
1. Freemium Model
Almost all the video editing apps such as Splice, iMovie, LumaFusion, InVideo, etc. follow this monetization technique to make money. The apps are permitted to monetize a tiny part of their services that benefits the rest segment they offered free to the users initially. It is like attracting the users first with lucrative offers free of cost, and then start earning money by the paid services of the app.
2. In-app Advertisements
Ventures look to develop an app like Magisto so that they can apply this strategy to make money. Apps can charge to other businesses or companies to show their advertisements or promote them within your app. These in-app ads directly target the potential customer base with high-end information tracking and user behavior analysis.
3. Pay Per Download
Although it is not used by many video editing apps still it is quite an effective strategy to apply to earn a huge profit. In this, users must pay a specific amount to download the app, and these apps also have in-app purchases. For this monetization model, we can take the example of the LumaFusion app.
4. App Subscription
It is the most common yet useful enough monetization model among all. In this, the app is free-to-use but if the user wants to get access to some of the exclusive features, he/she must pay money to use those features.
Steps to Develop a Video Editing App Like Magisto
Start-ups that don’t have any idea about ‘How to develop a video editing app’ will get an understanding of it by having a look at the below points. A detailed development plan will lead you to success. Check out all these steps that you must consider building video editing apps like Magisto, LumaFusion, Splice, iMovie, etc.
Market Research About the App
While establishing your idea and turn it into reality, you must go through a lot of market research & analysis. You better have a polished plan to alleviating the risk of failure. Conduct a SWOT or PESTEL analysis to know about your competitors, business scope, and current market situation.
Identify the Target Audiences
Most of the video app’s business profit comes from the young audiences who are fun-loving, energetic and remain active on the social media platforms. Hence, businesses must focus on the requirements of these people and include exciting features to get the attention of the masses, particularly the young ones.
Impressive and responsive app designs are necessary to get more users. Businesses must hire skilled mobile app designers from a video editing app development company so that their app can have striking UI/UX designs to have a large customer base. This glitch-free user interface of the app is a significant aspect to have for the app’s success.
Whether it is Android app development or iOS app development, hire app developers who have knowledge and expertise in all the advanced technologies and programming languages. It is necessary to know that developers are the backbone of any application as they are the ones who will create a suitable app for you.
App development is not the final step as testing the product is also much important. After completing all the stages of app development, you must check the quality standards of the app according to the market. This step is crucial as finding a bug means stopping the app launch until it is solved. The process of finding the issue will continue till the app is error-free.
Essential Team Structure & Tech Stack
While developing an app, you must consider a proper team structure with the right skills. The mobile app development company you choose can help you in this. If you had picked a well-known firm, then you don’t need to worry as they already have team of experts & professionals with the limited members.
Along with it, integrating the appropriate technology stack will give a competitive advantage to your app, therefore you must do both these things in the right way to give tough competition to others.
You must have a proper team structure to handle such a heavy project and keep it limited to maintain the low development cost.
- Team or Project Manager
- iOS Developers or Android Developers
- Back-end Developers
- UI/UX App Designers
- QA Engineers
Among various app technologies to use, here we have brought an appropriate tech stack for the video editing app development-
- Android: OkHttp 3, Kotlin
- iOS: Alamofire, Swift
- Back-end Development: Express4, Node.js, SQL, MongoDB, Azure, MySQL.
- Social Network Sharing: TikTok SDK, Facebook SDK, TwitterKit SDK
- Audio Effects & Adding Music: MPMediaPickerController
- Correcting Color: MetalAPI (iOS), GPUVideo (Android)
- Different Tools: Amazon SES, Amazon S3, Google Cloud, Amazon SNS, Azure Stream Analytics, Apple Push Notifications, ML Kit, Google Mobile App Analytics, Google Maps API, ARCore, Twilio, MapKit
How Much Does It Cost to Develop an App Like Magisto?
The cost to develop a video editor app can affect the overall development process as to maintain the pre-decide app development cost, it is necessary to consider different factors. These factors comprise App platforms & complexity, size, core & advanced features, tech stack & team structure, location & experience of the developers, and their different service charges.
Creating a mobile app that runs on both iOS and Android platforms helps to target more audiences. Considering all the necessary points that have been mentioned above in the article, let’s get a rough estimation. The cost to develop an app like Magisto would be around $10,000 to $40,000 comprising essential features. If you want to add more features or want a compatible app with varied platforms and browsers as per your business requirements, this evaluated cost would go higher.
Users have been always interested in video editing and adding appealing content to it. It is their interest that’s why the live video editing app development market is touching heights. With the technology advancements, app development companies are also paying attention to the user’s demand to include high storage capacity, enough RAM, & the right tech stack to the app. Apart from these, there are a lot of things to take care of before you hire a leading video editing app development company. To make your app touch the sky, you must consider every aspect.
In this process, you won’t find a better partner than SemiDot Infotech as we will not only provide you with assistance through dedicated app developers but also look after the cost to develop a video editor app. We will provide you with development services through our dedicated developers with a well-created plan while keeping user convenience and satisfaction in mind. Experience the best by joining hands with us!