A Title template that takes your text and turns it into a cut-out so that you can adjust the background image both inside and outside the text itself. NOW UPDATED to allow for very big text sizes, and with an added offset control to enable you to animate the text matte (leaving everything else as is.
A very popular effect that's been around for a long time but here it is with a few interesting added twists.
You can darken or brighten inside and outside the text area; you can affect the contrast and the saturation.
You can choose to make the inside or outside a negative of the image.
You can tint inside or outside the text area or both.
You can blur inside or outside the text area and control the ammount and direction (horizontal/vertical or both).
You can select a solid background colour for the outside area.
And finally there is an onscreen control that allows you to offset the position of the inside area and adjust its scale.
Note that the text itself is not visible in this effect - that's the whole idea! - so you will need to go to the text tab of the Inspector to enter text; you will not be able to input text in the Viewer. Note also that because the text is a matte the Outline tab will add to the matte not create a visible outline - with some tweaking of the width, blur and opacity you can get some interesting extra value out of this effect.
This is a Title template and should be installed in your User/Movies/Motion Templates/Titles folder. Please think about using the outstanding freeware Motion Templates Installer from Andreas Kiel at spherico.com - this template includes an MTT installer, byt far the best way of keeping everything tidy.