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Folks ask me about 30p conversions often. Twixtor from RE:Vision Effects is a popular tool for this, as is Apple’s Compressor. Adobe After Effects has The Foundry’s well-regarded Kronos retiming technology built-in. All of these solutions are variations on optical flow algorithms, which track areas within the frame, try to identify segments of the image that are traveling discretely (you and I would call these “objects”), and interpolate new frames based on estimating the motion that happened between the existing ones.
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Converting 30p to 24p

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