For a limited time, they are letting users of NewsCutter, Symphony, and Media Composer upgrade to the new subscription Media Composer for $500, which will then be upgradeable for $300 a year thereafter to stay with the most current version (for Educational licenses it's only $200 for the upgrade). Here are the details (you can check eligibility by clicking here):

Qualifying licenses include Media Composer 3.5 through 7.0, Symphony 3.5 or later, or NewsCutter 7.5 or later. 
You can purchase an upgrade for qualifying Commercial licenses for $499 (qualifying Educational licenses $199).

Subsequent annual renewals will be at regular rates. Offer expires December 31, 2015.

Just like Adobe, Avid now offering a similar subscription service. It's also no secret that this kind of model has worked well for many companies, especially Adobe. What's different from Adobe though is that Avid is still offering licenses that let you own the software. Check out this page for more information on their licenses and how payments can break down.

They've also got limited offers for monthly/annual subscriptions, which are now as low as $30 a month until December 31st:


Here's some more on Avid Media Composer:

  • Edit 2K, 4K, Ultra HD, and other higher-res media natively
  • Work in any resolution without limits with Avid Resolution Independence
  • Get greater beauty without the high-res bandwidth with DNxHR
  • Automate duplicating and parking high-res media into nearline storage
  • Automatically transcode media to working editorial formats
  • Deliver high-res masters of finished projects right from Media Composer
  • Preserve image detail with support for higher frame rates, including 48p and 60p
  • Produce more vivid, truer imagery with enhanced color management
  • Eliminate the wait with background rendering and transcoding
  • Create better sounding stories with a full suite of audio tools and support for AAX plug-ins
  • Enjoy the benefits of being on the Avid MediaCentral Platform
  • Get all Media Composer updates, upgrades, and expert help for one year

This is what's included in the $300 yearly subscription besides the free updates:

  • Stay up to date as all future Media Composer upgrades are included with your 1-year plan and accessible from the cloud as soon as they’re available; simply renew your plan annually for just $299/year to stay current
  • Get help whenever, wherever, and however you need it, with world-class experts available worldwide to answer questions and resolve issues

For more information, check out the page here.

It's also worth noting that if you just want to get familiar with Avid, they've got a free 30 day trial, and this year also introduced a free, stripped-down version called Media Composer | First that should be coming out very soon (since they said 2015). We'll let you know when it becomes available, but it might be a good solution for those trying to get more familiar with the software at their own pace or who don't necessarily need all the advanced features in the full version.

Media Composer Subscription Offer

Media Composer Upgrade Subscription Offer

Source: Avid