First, Magisto launched a cloud-based video-editing platform for the web, which allowed users to upload their content and have it automatically stitched together into wonderful, watchable videos. Then it brought that capability to iOS and Android devices, which helped users make viewable content out of usually crappy mobile videos.
But to use the Magisto platform, you had to download the Magisto app or go to the Magisto site. At least, until now.
Magisto is opening up its API, which will allow third-party developers to be able to take advantage of its cloud-based video editing service in their own applications. By connecting to Magisto, these apps can introduce a way for end users to create mashups of user-generated content or content that they own or have licensed, without building out their own video-editing services.
Interested developers will need to contact Magisto to get set up with an API key. Once they have it, they will also get 50 free editing sessions to play with the service. After that, they’ll pay $1 for each standard-quality video and $2 for each HD video made with the app. If you’re a huge developer, it’ll also work on some bulk packages. Anyway, if the plan works, that’s a tidy new revenue stream for Magisto.
The company has already struck a deal with European digitization firm Forever, which allows users to send in old VHS, 8MM, and slides to be made digital. Now Forever customers will be able to automatically edit those videos using Magisto’s tools, making them more watchable (and shareable). I could see a company like U.S.-based digitization firm YesVideo doing something similar, especially now that it’s betting big on the cloud.
Magisto was founded in 2011 and raised a $5.5 million funding round led by Hong Kong billionaire Li Ka-shing’s private investment arm, Horizons Ventures, last September. Previous investor Magma Venture Partners also participated in the round.