Final Cut Pro transforms video creation with Live Multicam on iPad and new AI features on Mac

Final Cut Pro for iPad 2 delivers support for projects on external drives and Live Multicam to record multiple angles at once using the new Final Cut Camera app for iPhone and iPad; Final Cut Pro for Mac accelerates editing with new AI features

Apple® today introduced Final Cut Pro® for iPad® 2, bringing huge updates that unleash the remarkable capabilities of the new iPad Pro® and take creativity to the next level. Final Cut Pro for iPad 2 transforms iPad into a multicam production studio with Live Multicam, giving users the power to speed up their shoot by allowing them to connect and preview up to four cameras all at once, all in one place. ¹ To support Live Multicam, Final Cut Camera™ — an all-new video capture app — comes to iPhone® and iPad, letting creators wirelessly connect and remotely direct each video angle with powerful pro controls. ² Final Cut Camera also works as a standalone professional video capture app on iPhone and iPad. External project support gives users the flexibility to edit projects directly from an external drive, leveraging the fast Thunderbolt connection of iPad Pro. ³ Editing and finishing a project with Final Cut Pro on the new iPad Pro with the M4 chip is incredible, enabling users to color grade, apply multiple effects, and render graphically intense timelines even faster. Final Cut Pro for iPad 2 has even more customizable content for editing and creating unique projects, and leverages the advanced features of the all-new Apple Pencil Pro™ such as barrel roll and squeeze for Live Drawing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240507448127/en/

Final Cut Pro for iPad 2 brings huge updates that unleash the remarkable capabilities of the new iPad Pro, while Final Cut Pro for Mac 10.8 offers new AI features and enhances the ability to retime visuals. (Photo: Business Wire)

New artificial intelligence features come to Final Cut Pro for Mac® 10.8, giving editors the ability to rapidly customize the look of videos or photos in a single click and retime visuals more easily than ever. ⁴ Important workflow-accelerating tools bring new ways to manage color correction and video effects, as well as search and navigate the timeline with ease.

"Users have been loving the portability and flexibility of editing with Final Cut Pro for iPad. It was designed from the ground up to take advantage of everything iPad has to offer, and that continues with the latest advances like Apple Pencil Pro and the M4 chip," said Brent Chiu-Watson, Apple's senior director of Apps Worldwide Product Marketing. "Now, Final Cut Pro for iPad is getting even more powerful, transforming production workflows for creators by putting iPad at the center and allowing them to edit and share more quickly than ever, whether they're at the studio or on the go. Final Cut Pro for Mac also continues to deliver efficiency gains for editors with new features that are smarter and faster."

Final Cut Pro for iPad 2

The latest update to Final Cut Pro for iPad transforms iPad into a more powerful production studio and opens up entirely new video workflows, while offering even more capabilities with the all-new Apple Pencil Pro. With M4 on the new iPad Pro, final rendering is up to 2x faster, and editors can take advantage of support for up to 4x more streams of ProRes® RAW than with M1.

Live Multicam

Final Cut Pro for iPad 2 delivers Live Multicam, an innovative new solution for users to capture up to four different angles of a single scene, whether working with their own devices or collaborating with others. Live Multicam connects wirelessly via Final Cut Camera, a new video capture app, enabling users to view up to four iPhone or iPad devices and providing a director's view of each camera in real time. Each live camera feed can have settings adjusted right from Final Cut Pro for iPad 2 to easily dial in exposure, focus, zoom, and more for the perfect shot. Editable preview clips are immediately passed through to Final Cut Pro for iPad and replaced with full-resolution files in the background, so users can seamlessly move from production to editing.

Final Cut Camera

To support Live Multicam in Final Cut Pro for iPad 2, Final Cut Camera comes to iPhone and iPad to enable live monitoring and individual control of each video feed. Leveraging the incredible camera systems on iPhone and iPad, Final Cut Camera allows users to adjust settings like white balance and manual focus, while monitoring their recordings with zebras and audio meters. Users can now also adjust ISO and shutter speed, and enable focus peaking, bringing even more power to the camera system on iPad Air® and iPad Pro. Final Cut Camera can also be downloaded for free as a standalone video capture app to record professional videos on iPhone and iPad with precise manual controls.

External Project Support

For even more storage flexibility, Final Cut Pro for iPad 2 now supports external projects, letting users easily create or open projects on an external storage device and import media without taking up space on their iPad. Editors can quickly hand off external projects to another editor or take them into Final Cut Pro for Mac; create new projects on external storage; and seamlessly import high-resolution files and professional codecs like ProRes and Log.

Even More Ways to Customize

Final Cut Pro for iPad 2 brings more options to customize projects. Users can dial in their edits with 12 new color-grading presets, choose from eight basic text titles, score with 20 new soundtracks, and add additional dynamic backgrounds to create effect overlays and title sequences.

The powerful new Apple Pencil Pro offers even greater precision for Final Cut Pro for iPad 2 users. Live Drawing now includes support for barrel roll, giving users more precise control of their chosen tool, and with squeeze, users can quickly pull up an array of brushes and settings.

Final Cut Pro for Mac 10.8

On Mac, editors can take their professional workflow to the next level. Leveraging the Neural Engine in Apple silicon, new AI features and organizational tools come to Final Cut Pro 10.8. Available as a free update to existing users, Final Cut Pro 10.8 introduces Enhance Light and Color, offering the ability to improve color, color balance, contrast, and brightness in one simple step, and is optimized for SDR, HDR, RAW, and Log-encoded media. With Smooth Slo-Mo, frames of video are intelligently generated and blended together, providing the highest-quality movement and more drama to a project.

For efficiency in post-production workflows, color corrections and video effects can now be given custom names in the inspector to easily identify changes applied to a clip, and effects can be dragged from the inspector to other clips in the timeline or viewer. The timeline index also offers the ability to search for and navigate to clips with missing media or effects. And text-based timeline search now includes important information like reel, scene, camera angle, and more.

Pricing and Availability

Final Cut Pro for iPad 2 will be available later this spring as a free update for existing users, and available on the App Store® for $4.99 (U.S.) per month or $49 (U.S.) per year, with a one-month free trial for new users.
Final Cut Camera will be available for free later this spring as a standalone app.
Final Cut Pro for Mac 10.8 will be available as a free update for existing users and for $299.99 (U.S.) for new users on the Mac App Store. All new users can download a free 90-day trial of Final Cut Pro.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple's six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple's more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

¹ Final Cut Pro for iPad 2 requires iPadOS 17.4 or later, and iPad models with the M1 chip or later.
² Final Cut Camera is available on iPhone Xs and later running iOS 17.4 or later, and iPad models running iPadOS 17.4 or later.
³ External project support requires iPadOS 17.5 or later.
⁴ Final Cut Pro for Mac 10.8 requires macOS 13.5 or later, 8GB of RAM (16GB recommended), a Metal-capable graphics card (Intel-based Mac computers only), and 6.5GB of available disk space.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or email Apple's Media Helpline at media.help@apple.com .

© 2024 Apple Inc. All rights reserved. Apple, the Apple logo, Final Cut Pro, iPad, iPad Pro, Final Cut Camera, iPhone, Apple Pencil Pro, Mac, ProRes, iPad Air, and App Store are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240507448127/en/

Renee Felton
Apple
rfelton@apple.com

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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended					Nine Months Ended
	June 29, 2024		July 1, 2023			June 29, 2024		July 1, 2023
Net sales:
Products	$	61,564	$	60,584		$	224,908	$	230,901
Services		24,213		21,213			71,197		62,886
Total net sales ⁽¹⁾		85,777		81,797			296,105		293,787
Cost of sales:
Products		39,803		39,136			140,667		146,696
Services		6,296		6,248			18,634		18,370
Total cost of sales		46,099		45,384			159,301		165,066
Gross margin		39,678		36,413			136,804		128,721

Operating expenses:
Research and development		8,006		7,442			23,605		22,608
Selling, general and administrative		6,320		5,973			19,574		18,781
Total operating expenses		14,326		13,415			43,179		41,389

Operating income		25,352		22,998			93,625		87,332
Other income/(expense), net		142		(265	)		250		(594	)
Income before provision for income taxes		25,494		22,733			93,875		86,738
Provision for income taxes		4,046		2,852			14,875		12,699
Net income	$	21,448	$	19,881		$	79,000	$	74,039

Earnings per share:
Basic	$	1.40	$	1.27		$	5.13	$	4.69
Diluted	$	1.40	$	1.26		$	5.11	$	4.67
Shares used in computing earnings per share:
Basic		15,287,521		15,697,614			15,401,047		15,792,497
Diluted		15,348,175		15,775,021			15,463,175		15,859,263

⁽¹⁾ Net sales by reportable segment:
Americas	$	37,678	$	35,383		$	125,381	$	122,445
Europe		21,884		20,205			76,404		71,831
Greater China		14,728		15,758			51,919		57,475
Japan		5,097		4,821			19,126		18,752
Rest of Asia Pacific		6,390		5,630			23,275		23,284
Total net sales	$	85,777	$	81,797		$	296,105	$	293,787

⁽¹⁾ Net sales by category:
iPhone	$	39,296	$	39,669		$	154,961	$	156,778
Mac		7,009		6,840			22,240		21,743
iPad		7,162		5,791			19,744		21,857
Wearables, Home and Accessories		8,097		8,284			27,963		30,523
Services		24,213		21,213			71,197		62,886
Total net sales	$	85,777	$	81,797		$	296,105	$	293,787

Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value)

	June 29, 2024			September 30, 2023
ASSETS:
Current assets:
Cash and cash equivalents	$	25,565		$	29,965
Marketable securities		36,236			31,590
Accounts receivable, net		22,795			29,508
Vendor non-trade receivables		20,377			31,477
Inventories		6,165			6,331
Other current assets		14,297			14,695
Total current assets		125,435			143,566

Non-current assets:
Marketable securities		91,240			100,544
Property, plant and equipment, net		44,502			43,715
Other non-current assets		70,435			64,758
Total non-current assets		206,177			209,017
Total assets	$	331,612		$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable	$	47,574		$	62,611
Other current liabilities		60,889			58,829
Deferred revenue		8,053			8,061
Commercial paper		2,994			5,985
Term debt		12,114			9,822
Total current liabilities		131,624			145,308

Non-current liabilities:
Term debt		86,196			95,281
Other non-current liabilities		47,084			49,848
Total non-current liabilities		133,280			145,129
Total liabilities		264,904			290,437

Commitments and contingencies

Shareholders' equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively		79,850			73,812
Accumulated deficit		(4,726	)		(214	)
Accumulated other comprehensive loss		(8,416	)		(11,452	)
Total shareholders' equity		66,708			62,146
Total liabilities and shareholders' equity	$	331,612		$	352,583

Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Nine Months Ended
	June 29, 2024			July 1, 2023
Cash, cash equivalents and restricted cash, beginning balances	$	30,737		$	24,977

Operating activities:
Net income		79,000			74,039
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization		8,534			8,866
Share-based compensation expense		8,830			8,208
Other		(1,964	)		(1,651	)
Changes in operating assets and liabilities:
Accounts receivable, net		6,697			7,609
Vendor non-trade receivables		11,100			13,111
Inventories		41			(2,570	)
Other current and non-current assets		(5,626	)		(4,863	)
Accounts payable		(15,171	)		(16,790	)
Other current and non-current liabilities		2			2,986
Cash generated by operating activities		91,443			88,945

Investing activities:
Purchases of marketable securities		(38,074	)		(20,956	)
Proceeds from maturities of marketable securities		39,838			27,857
Proceeds from sales of marketable securities		7,382			3,959
Payments for acquisition of property, plant and equipment		(6,539	)		(8,796	)
Other		(1,117	)		(753	)
Cash generated by investing activities		1,490			1,311

Financing activities:
Payments for taxes related to net share settlement of equity awards		(5,163	)		(5,119	)
Payments for dividends and dividend equivalents		(11,430	)		(11,267	)
Repurchases of common stock		(69,866	)		(56,547	)
Proceeds from issuance of term debt, net		—			5,228
Repayments of term debt		(7,400	)		(11,151	)
Repayments of commercial paper, net		(2,985	)		(5,971	)
Other		(191	)		(508	)
Cash used in financing activities		(97,035	)		(85,335	)

Increase/(Decrease) in cash, cash equivalents and restricted cash		(4,102	)		4,921
Cash, cash equivalents and restricted cash, ending balances	$	26,635		$	29,898

Supplemental cash flow disclosure:
Cash paid for income taxes, net	$	19,230		$	7,020

Final Cut Pro transforms video creation with Live Multicam on iPad and new AI features on Mac

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