How to Make Video Editing App Like Magisto – Cost & Features
Videos are a treat to watch, a trip down your memory lane that can almost be felt as it was happening in the present. But it was a luxury for the rich before the wave of smartphones took over the world. With smartphones, every individual in the world had the means to become a part of the digital video world. That’s why we have decided to write a blog on Video Editing App Like Magisto.
This influx of consumers in the digital video world paved a path for a new niche i.e. live video editing app development. As per a study from PointsGroup, there has been a 400% increase in mobile video views between the years 2012 to 2014. While 50% of videos globally are being streamed via mobile devices.
Apps like Magisto are offering automated video editing and storytelling that are widely used by businesses and consumers. This blog offers essential information on how to develop an app like Magisto. Read on till the end to learn important aspects of app development such as cost and features. So, let’s begin.
Magisto offers enhanced storytelling and editing features to its users. The app was created by Dr. Oren Boiman and Dr. Alex Rav-Acha in 2009 and was named SightEra. The USP of this app is that it highly reduces the editing time for videos. In 2010, Magisto received 5.5 million USD from Ventures partners and Magma Ventures Horizons. The app was introduced to the market on 20th September 2011 and received a tremendous response from the users. Ever since this, there has been an exponential increase in Magisto clone app development.
How to Develop an App like Magisto?
A thought-out development plan can offer you instant success. Here is a step-wise guide for start-ups that don’t have the complete idea of how to initiate developing a video editing app.
- Market Research
- Learning the Target Audience
- Design & Development
Cost to develop a video editing app like Magisto
Whether you’re a start-up or an established business, money is always a concern for every business. Video editing app development like any other is dependent on the hourly development rate of a mobile app development company and the total number of development hours. It’s difficult to pinpoint a single price due to the different variables involved in app development.
But we’ve managed to decide on a price range related to different techs. Let’s have a look at the mobile app development cost.
The cost to develop a video editing app like Magisto would be around $5,000 to $50,000 depending on the type of the app.
- Android App Development: $5,000 – $35,000
- iOS App Development: $10,000 – $40,000
- Cross-Platform App Development: $15,000 – $50,000
There can be a difference in price depending on the mobile app development framework you choose. Video editing apps like Magisto will account for a 25 billion USD market in 2021. This can be predicted by the fact that after Magisto’s launch in 2011, it had 5 million users by 2013.
Essential Features for a Video Editing App
Video editors are a collection of various features. Businesses have to choose the same care as it affects the quality of your app and the response it would get from users. Here’s a list of all the needed features for the app.
- Registration – Users have to register for the first time and offer details such as name, email, and other important personal details. The same data can be gathered from offering direct social media logins like Facebook and Instagram.
- Add or Create Video – You would have to ask for permission to access your user’s gallery so that they can upload their already shot videos and edit them. Users can also shoot live videos and edit them directly.
- Edit Panel – The edit panel you design will be the highlight of your app. You have to offer various themes, styles, and edit options. They can also alter the pace of the video, add different filters, and customize the existing themes.
- Add Music – Music can change the feel and meaning of the video. There should be various genres of music that users can explore from. The programming should be such that a user can add the necessary music while completely removing their original video sound.
- Social Media Integration – Users generally like to edit these videos and post them on social media like Instagram or Facebook. Therefore you must offer options to post videos directly on these platforms. They should also be able to share their videos directly on other platforms such as Whatsapp.
- App Subscription – There should be a separate page for the same, where the users can observe the different subscription plans and benefits they can receive with the same.
- Login – There is one admin that maintains the whole of your app. But this id and password are extremely confidential due to sensitive data. One can also add additional security features like mobile OTP verification.
- Dashboard – All the information related to users and the platform can be availed here. Admin has the right to view, edit, and remove all the pages on the dashboard. An admin can also view and generate templates as necessary.
- User Management – All the user-related queries are solved with this feature. Admin can examine a user’s profile, delete or limit certain permissions for required users. The feature is also highly important for managing individual security.
- Theme & Style Management & Editing – Admin can customize themes and other editing styles whenever they please. They can manage the different designs, layouts, buttons, and update the same.
- Create Discount Coupons – Admin can create various discount coupons and share the same with its elite users. What will be the amount of discount that will be allotted?
Advanced features extend the functionality of your application. It equips your app with tools that can offer detailed reports on its performance and help one make better future decisions.
- Add Sound Effects – With this feature, users can design and implement sound effects from the panel. They can also add tracks from their library and edit the same.
- Analytics – This feature gathers real-time data from the APIs and servers and designs meaningful patterns from the same. This is an important feature for any app as it helps make better futuristic predictions and decisions. By investing in the same you can make better decisions about your mobile video editing app development project.
- Filters and Stickers – Filters and stickers are the most important part of a video. It helps a user express their art in numerous ways. There should be enough filters, stickers, and effects that make their app better than others.
- Join/Alter & Add Segments to Different Videos – These are some of the essential feats of a video editor and must be implemented with precision. Through this users can record videos at different places and merge the same using these tools.
- Artificial Intelligence – This feature would design mobile apps that are intelligent enough to observe and capture meaningful patterns that can be used to increase the engagement of the users.
You can also go through a mobile app development guide to get a fair idea of the entire app development process.
How to Monetize your Video Editing App?
- In-App Advertisements – Apps use a lot of different strategies to make money. This is one of the most traditional methods to do the same. Apps do charge other companies to promote their advertisements on their platform. These ads are designed to target potential consumers that are selected using behavior analysis and information tracking.
- Freemium Model – Many famous video editing apps such as Splice, Lumafusion, InVideo, iMovie, and more use this as their business model. With this model, a user can access certain services for free and has to pay for the other premium features. They aim to attract customers for a free-of-cost service and then introduce the paid services of the app.
- Pay Per Download – This model isn’t very prevalent among video editing apps but offers quite an effective strategy to make chunks in profit. A user has to pay up-front to download the app that also has many in-app purchases. LumaFusion app is an example of the same.
- Subscription – This is the most common but successful method for monetizing your app. Here the app is free to use but a user can pay to access the premium features.
Here’s a wrap to this read. We being a mobile app development company are an expert in designing client-specific business solutions. We have been offering IT services like web and mobile app development for 9+ years, to our clients all around the globe.
Technource works with all the native, cross-platform, and emerging techs to help offer our clients the exact software solutions that they need. Our team of experts holds considerable experience in their respective fields to guide our clients in the right direction.
Our specialty is that we believe that with tech our mind is on a constant learning curve. This helps us enjoy the perks of inculcating new techs as a part of our knowledge. Get in touch with today to create your desired applications or software solutions. Thank you for reading.
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