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Text, as in those for title screen and identifying markers, is used as standard in pretty much every film or video project. It is used to open up the film, let you know who people are in some cases, and show you who worked on it. When using this feature there are some things you have to consider so that the purpose ends up being maintained.
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The first thing you have to remember is that above all else the text has to be seen. What this means is that there is no reason to make it fancier than necessary or to give it a shade that is either too bright or too dark. Make it appropriate for the situation so that the audience is able to read it. This runs true for the size of the text as well, which conventionally should be large enough so that someone could read it seven to ten feet away.
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Try to maintain the themes of the film in the text styles that you are using. Many people try to have elaborate text sections, which is fine as long as it is in line with the motifs you are approaching in your film. Think about the way fonts and image design are meant to match a frame of reference in an adjoined piece of art when placing them in. Currently very minimal text images are preferred amongst many video artists, but this may not be right for your situation.
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Avoid any serif fonts when using text. This means fonts that have extra marks on the letters for style. These make it harder to read for the audience, especially when they are trying to do so quickly and from a distance. Always go with San Serif fonts.
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Using outside text programs like Live Type are great as long as the choice is clearly provoked by need and you know how to use the software well. If you are just trying to create something large and attractive you will end up either overdoing it in this type of program or you will be unable to get exactly what you want. Unless it is just absolutely necessary you may just want to stick in your editing program for this.