Video Editing Software
This page provides an overview of the main video editing software options for beginners through to mid-level professionals. I have used a combination of my own experience and the word I hear from other editors, reviews, forum postings, etc. Video software is largely subjective and some people will disagree with some of my opinions and observations. As always, it pays to get lots of opinions so don't limit your research to mine.
Microsoft
Windows Movie Maker
This simple application has the advantage of being installed by default on most Windows PCs. It is actually a good way to experiment with video editing and learn the basic concepts. Be warned though, this is a very limited program and is only useful for absolute beginners. You can't produce serious videos with Movie Maker.
Apple
Apple iMovie
This is the Macintosh equivalent of Windows Movie Maker, in that it is a free low-end application shipped with the operating system. However it is much better than the Windows version. Suitable for beginners and amateurs with modest goals.
Apple Final Cut Express
Final Cut Express is a low-budget version of Final Cut Pro. It is capable of producing moderately challenging videos and should be sufficient for most amateur enthusiasts. Students and professionals may be able to get by with this product, depending on their requirements, but most professionals will need a more feature-rich application.
Apple Final Cut Pro / Studio
FCP gained a lot of momentum from the late 1990s to become the most popular choice for mid-range video professionals. It now enjoys being something of an industry standard, or at least a widely-accepted and familiar application. This makes it very useful for compatibility, ease of transition for new staff and different production houses, etc.
As with the Adobe suites (below), you should consider the full Final Cut Studio bundle to get all the bells and whistles.
Adobe
Note: For a while Adobe abandoned support for the Macintosh, but this is changing and Adobe video products will soon be available for both Windows and Mac.
Adobe Premiere Elements
Premiere Elements is low-budget version of Premiere Pro. Like Final Cut Express, it should be sufficient for most amateur enthusiasts. This is a very good all-round budget option.
Adobe Premiere Pro, Adobe Bundled Products
Premiere Pro is roughly equivalent to Final Cut Pro and offers a similar feature set. Premiere has a long history and was once king of the mid-range editing world, but lost a lot of ground when more products became available from the late 1990s. In particular, FCP took over from Premiere on the Mac.
On it's own Premiere is a powerful, fully-professional video editor. However it lacks some advanced audio and graphics features, because Adobe makes other products to handle these things. If you want maximum functionality you need to buy additional products separately or as a bundle.
The good news is that the bundles are very cost-effective and provide a lot of power. In particular, After Effects and Photoshop are both very highly regarded.
Sony
Sony Vegas
This is a nice user-friendly application that holds it's own against more expensive products. I only tested it briefly in early 2007 but I found it to be intuitive, fun and useful enough to produce professional videos. The effects and transitions were especially nice to use. However it lacked the advanced features of other programs, and I doubt whether serious professionals would prefer this over Final Cut Pro or Premiere.
ULead
ULead Video Studio, Media Studio
It's been a long time since I've used this software so I can't comment too much. As far as I can tell it has maintained it's position as a viable alternative to Adobe and Apple products, but doesn't quite come up to their standards. Still a fair choice, just don't expect it to be the best.
Avid
Avid is a respected force in the video and television industry and many professionals are familiar with Avid products. Initially known for producing high-end editing solutions, Avid now also offers software for the budget-conscious.
Again, it's been a long time since I've worked on an Avid and I have no experience with their low-budget applications. All I can say is that Avid is worth considering, but you should look for a particular reason to buy their products rather than one of the more widely-used options.
See also: Adobe Premiere vs Final Cut Pro