Earlier today (Tuesday, 3/8/11) Avid began shipping the next update to Media Composer, 5.5. The software was recently announced and we discussed the news here, as did StudioDaily editor Beth Marchant on StudioDaily’s main page. It’s available immediately from the Avid store. You’ll get the best price if you’re currently running 5.0, as that’s only a $149 upgrade download. There’s also boxed versions available for both upgrades and new purchases for a slightly higher fee than the download. The new phonetic searching tool for Media Composer, PhraseFind, is also available from the Avid Store. It’s $495 for both the downloadable and the boxed version. There’s also a deal going on for PhraseFind:

Special offer for Media Composer 5 owners: Get a complimentary download of the Media Composer 5.5 upgrade when you purchase the download version of ScriptSync, PhraseFind, or the ScriptSync and PhraseFind bundle from the Avid store. If you have not purchased, registered and activated Media Composer 5, the Media Composer 5.5 upgrade offer above will not work for you.

That will save some $149. I haven’t tried PhraseFind yet but I’ll be very excited to see just how well it works and how it’s integrated into the revamped Media Composer search.

As a reminder, here’s the bullet point features for Media Composer 5.5, from Avid’s website:

  • Capture, monitor, and output video with support for the AJA Io Express interface
  • Natively access and edit Sony HDCAM SR Lite media through AMA (Avid Media Access)
  • Accelerate Panasonic AVC-Intra projects—and use multiple streams—with support for the new Nitris DX AVC-Intra hardware interface
  • Take hands-on control of your video and audio editing/mixing with EUCON support for Artist Control, Artist Mix, and Artist Transport control surfaces
  • Find the right clips fast with support for the new PhraseFind option
  • Directly manipulate transitions in the timeline with the expanded Smart Tool
  • Be more creative with updates to production suite
  • Quickly find files across local and shared storage bins using the improved Find tool
  • Capture and monitor audio in Media Composer projects using Pro Tools hardware
  • Specify audio track formats during import or through AMA, and expand your creative palette with 20 included AIR effects plug-ins
  • Be more creative with new updates to the included Production Suite (sold separately from download purchases)
  • Get more flexibility with audio signal routing when sending material to air (Send to Playback), with up to 16 audio output channels
  • View portions of the software interface in localized languages, including Japanese, Simplified Chinese, Korean, French, Spanish, German, and Italian
  • Get better Long GOP performance when using Send to Playback with AirSpeed servers
  • Use proxies of H.264 material in AirSpeed MultiStream environments for faster response time and increased stream counts
  • New format support with Matrox MX02 Mini now includes SD 23.976, 720p 23.98, 1080p 23.98, 1080p 24, 1080p 25, and 1080p 29.97 as well as the ability to select PsF or true P output in 1080p modes. Also MX02 Mini with Max acceleration has been qualified on Mac OS systems.

Splice Now has some additional discussion of beta testing today’s release as well. If you’ve been waiting for this upgrade, here it is.