For anyone who doesn’t yet know, Adobe recently acquired Serious Magic. The press release can be read here. So why did Adobe buy Serious Magic? The first reason that comes to my mind is the lack of FLV capable encoders and editors available to non professional creators. One of the most overlooked effects of sites like YouTube is the overnight creation of a multitude of amateur video editors. Now that Flash video has completely taken over the delivery side of the web video industry, Adobe must offer tools to non professional video editors. This seems to be directly aimed at the YouTube and MySpace crowd, and since those two sites alone form the largest userbase of Flash Video by an enormous margin, Adobe sees profit potential in that untapped market and has acquired a company that creates “easy” video editing software.