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The basic difference between film and video is that film capture pictures in a rapid sequence, while video is a displayed moving image. To be more specific depends on whether you mean an actual reel of film, or film as it refers to movies.
Film
Traditionally, movies were made using film reels, which are wheels on which a length of film is wound. The film has a sequence of pictures which, when the film is run through a projector, makes it appear as if the images are moving.
Video
Video is a transmission of images, not snapshots of them in succession like film. Typically when the word "video" is used, it is assumed that audio is included. However, video refers solely to picture, while audio refers to sound.
Movies
When referring to motion pictures, there is no difference between "film" and "movie." Because of the role of the film wheel, the word film is usually associated with older movies. However, a modern movie may also be called a film.
Comparison
CyberCollege notes that: "The line between the [film and video] has now become a bit blurry. Today, many productions start out on film, and using a DI (Digital Intermediate) step the film is immediately transferred to video for subsequent postproduction work."
Expert Insight
According to the Los Angeles City College, film involves physical editing, a single camera and acquisition format, while video involves electronic editing, multiple cameras and postproduction format.
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