Years ago, for clicking stunning pictures, we required high-end DSLR to perform this task. However, later in the timeline, the introduction of smartphones simplified the process. In fact, these devices replaced DSLRs to a large extent. Even some years back, we used to edit video using some software installed on our laptops. This tedious and time-consuming process has become quite easy with these video editing apps.
What Is Magisto?
Magisto is a mobile video-editing software used for automated video editing and storytelling which pays attention to businesses as well as customers. It was never the first one to bring rapid changes in the video editing market, but with AI-powered technology, it did make a certain difference. As of 2019, the app version of this fantastic video editor solely boasts 50,000,000+ installs. Even the official website claims to own 1113 million users and is a host to around 450 million videos.
Market Statistics Of Video Editing App
Since the time smartphones introduced video playback feature, “online video viewing” has seen exponential growth in the market. As per a study by PointsGroup, beginning from 2012 to 2014, an increase of 400% has been registered in the mobile video views. Since 50% of video viewing globally has taken place on smartphones, it has given a lot of room video editing app industry. And in the herd of too many excellent video editing apps, only a couple of them has managed to sustain their positions. One such name is Magisto.
What Are The Opportunities In Developing A Video Editing App Like Magisto?
Video-editing apps mobile market is estimated to cross $25 billion by 2021 and software under your brand name can also eat a fair share of it, if you don’t wait too long for getting your app developed. In a video editing software, you can include several features like making and publishing stories. You can have an option of creating theme and filter based videos. As per recent users’ demand, it can be stated that the mobile video market will significantly benefit from these applications. All you need to comprehend is the right innovation, for making your app stands out amongst the already rising competition.
Top Video Editing Apps
To set foot in the market, it is of uttermost importance to have a precise analysis of your competitors. Understand their features, skill set and type of platforms they work on, for gathering insight into their world.
1. Viva Video
Developed by QuVideo, Viva Video is a perfect competition of Magisto like apps. It is compatible on iOS, Android and Windows Platforms.
- It offers numerous filters, themes, stickers, transitions and text styles.
- Has both premium and free versions.
- Has an entertaining user interface that makes this shooting journey much more fun.
- On buying premium version, users can shoot unlimited videos and remove the watermark.
- A bit inconvenient to switch between menu sections for various tasks.
Developed by AVFoundation, this app is Apple’s flagship product.
- Available for free on iOS and Mac OS.
- Allow users to add animated soundtracks and title to their video
- Own 14 templates for trailers which were designed by famous movie producers.
- The new version allows the user to speed up or slow down the video.
- One can easily extract audios from videos in this app.
One of the most powerful video editing app, created by GoPro Inc.
- The app is free of cost.
- Allows the user to record short and long videos
- Add headings and greetings to the recordings.
- User can also post their voice while recording a video.
- Synchronize sound effects with actions on the screen.
- Excellent app for creating home videos, presentations; owing to its’ simplicity of features.
Things To Consider Before Developing A Video Editing App Like Magisto
Any business without proper planning is bound to fail, no matter how perfect the execution was. Similar holds in case of app development. Here is a list of factors one should keep in mind before designing a video editing application:
What Is The Idea?
In case you are a newbie in the mobile app development arena, the planning and development phase could prove to be quite dreadful. Therefore, make sure that you implement your idea properly considering all sorts of loopholes that may arise. Do proper research as it will shed light in the right direction.
Who Will Be Your Target Audience?
Justly, everyone! After all, who doesn’t like making funny videos and share it with friends & family using social media. Having said that, you should target young, energetic, fun-loving, socially active people to gain popularity. Your video editing app must be a package of happiness filled with all kinds of exciting features to capture the attention of the masses, especially young buds.
What Kind Of Functionality A Video Editor App Must Have?
Well, a detailed version of this is covered in the upcoming sections of this article. For now, remember having an MVP version before giving a fully functional app. The app interface needs to be very intuitive as no one would like an app where using features requires step-by-step guidance. In the beginning, allow your users to swallow the idea of your application. Once they get acquainted, do ask for feedback and take it seriously. Ensure your solution is fun as well as easy to use.
How To Monetize The App?
You have a fantastic idea, an intricate design backed up by in-depth research and an experienced firm for your app development. Now what? Does the thought of making money cross your mind? Well, this point has its pros and cons. We are aware of the positive side, but what is negative in this? We will explain. Imagine you are capturing the view of Niagara Falls( in the US), and suddenly a full-screen banner pops up for making payment. By all means, you are going to be annoyed and may even end up uninstalling the app. Hence, it is vital to make the right move. In-app purchases and paid features sound as more sensible options when it comes to monetizing the app.
Functionality Of Video Editing App Like Magisto
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1. Real-time Analytics
With the help of a few APIs, real-time data can be retrieved from the data servers, and a report can be generated to find the user count with a free or paid subscription, number of users shared the video, how a particular user-created some video, number of downloads and more.
2. Incorporate Payment Gateways
Integrating payment methods has become very feasible these days, as it allows secured in-app transactions. Different payment entryways can be incorporated to make the process a lot simpler for the app user.
3. Artificial Intelligence
Artificial intelligence can do wonders when integrated into your video-editing application. It possesses features like auto-picking images & videos for making a movie. Using the magic of AI in your app, pictures and images will be automatically picked for editing. It is the right way of attracting customers towards your app and also help them in sticking with it.
4. Sound Effects
Don’tDon’t overlook this feature as it is something that has a significant impact on your app’s performance. Users should be given the facility of including a music track or their voice, enhancing the overall feel. The app should contain some audio filters for added effects like storm, rain, thunder and others.
5. Stickers & Filters
Who doesn’t like some fun? Similar holds with video editing software. Stickers and filters enhance the overall user experience plus make it more interesting to work. Skim through your competitors’ channel, and you will realize the relevance these amazing stickers hold in any video-editing application.
6. Social Media Sharing
The ability to record, edit videos and upload it on various social media channels including Facebook, Vimeo, Instagram is one such salient feature that one shouldn’t forget to add in the application. This way, your users will not only use the software but promote it too by sharing their creativity.
What Is The Cost To Develop Apps Like Magisto?
The depth of the hole in your pocket burnt by this app development is decided by many factors; some of them are listed below
- Complexity of features
- Manpower deployed in the solution
- No. of hours dedicated
- Region of the app development( as cost of development vary from region to region)
- Desired platforms you wish to get your app developed.
- Tech stack
Cost to create this kind of software is directly proportional to the number of technologies integrated.
How To Attract Customers?
It is not just development but reaching masses. Once the development phase is finished, you will realize that it was just the first step, the journey is long and a bit tiring. Post-launch, you will find that people abandon or ignore it. To avoid this kind of situation, we recommend taking action beforehand. Here is a list of tactics that you can leverage for attracting and retaining clients
1. Make It Social
The app must integrate various social media channels for a convenient sharing mode. Also, it should be easy to invite friends and family to this software as it will aid in attracting a good number of users.
2. Add Value
Remember, whatever functionality you have integrated into the solution, it is very much crucial for them to serve their purpose. When you are aiming to acquire a market of video editing apps, your software needs to possess all sorts of editing attributes. If you are targeting a young audience, pay extra emphasis on the entertaining part.
3. Unique Functionality
Generic features usually go unnoticed. Perform in-depth competitor analysis and figure out their loopholes. Your solution needs to offer some uniqueness, be it in the form of design, features, services or something else. What we as humans can’t forget is a unique sense of comfort!
4. Motivate Users
Introduce some reward, encouragement for sharing the app with other users. This will prompt them to come back to software and hence retain customers. Free stickers or some advanced filter will act as a good reward in such cases.
Develop App Like Magisto With Matellio
Matellio, a US-based software engineering company with its expertise in IoT, data science, mobile & web development, is here to give a shape to your imagination. We are a team of skilled developers who have expertise in app development under various categories. Leverage our services and design a video editing app like Magisto under your name. If you have some query or wish to get a free quote, contact us!