Earlier, we looked at how to apply an effect to a single clip, but what if you wanted that effect to extend for the entire movie—like having your whole movie in black and white, or having the whole thing look more contrasty, or having a slight warm tint added to it? Then you’d do this: Go to the Layers panel and click on the clip at the bottom of the layer stack (that should be the first clip in your movie). Now, click on the Create New Adjustment Layer icon at the bottom of the panel (it’s the fourth one from the left; it looks like a half black/half white circle) and choose Black & White from the pop-up menu. That makes just that one clip black and white, but we’re about to change that. In the Layers panel, click on the Black & White adjustment layer (it’s right above your first layer), and drag it all the way to the top of the Layers panel—above and outside the group folder (just like we did with adding text earlier). By doing this, it applies the black-and-white effect to all of your clips at once, rather than having to do it on a clip-by-clip basis manually.
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