CineCam, described as a 'social movie-making app', was downloaded 100,000 times in the first 72 hours after it was launched, according to its publishers Yuza.
The app aims to make movie creation on the iPhone easy - you simply select one of the variety of filters on offer, shoot your video and share it with your friends.
Video processing takes place in real time and you can instantly add a variety of effects to your movie. Other features include movie stitching, geo-tagging, sharing on Facebook, Twitter and YouTube as well as professional filming tips in the Techniques section of the app.
CineCam is designed for the iPhone 4 and though it doesn't currently support HD we're promised that this feature will be included in the near future. The app was the idea of Sebastian Morrison, a British TV and film director who has won Baftas for his involvement in Holby City and The Only Way Is Essex.
"As a director and editor, I've always taken a keen interest in the latest movie-making technology, for both professional and personal use. Although there are plenty of photo apps available for mobile phones, I noticed there was an absence of simple, good quality movie-making apps. I wanted to create movies on the run that could be instantly customised in a variety of different ways," Morrison said.
CineCam for iOS can be downloaded from the App Store for free for a limited period. It is compatible with the iPhone, iPod touch and iPad and requires iOS 4.0 or later.
You can buy CineCredits within the app at the following cost: 650 for 69p; 1,450 for £1.49; 3,250 for £1.99; 6,050 for £2.49; or 12,650 for £2.99. You will receive 3,000 free CineCredits when you download the app to get you started and you can also earn CineCredits by sharing your movies.