StudioDaily reports today that Panasonic is releasing a new, cheaper line of P2 memory cards for their video cameras. The P2 is a card, kinda like an SD or CompactFlash, but bigger. It does away with tapes in the production workflow, and, more importantly, can completely eliminate the “capture” process (where you have to play the tape back off of a deck to ingest the footage into the computer) — instead, you just dump the video files over from the P2 card onto the computer!

P2 cards originally were as expensive or more expensive than the cameras, making them prohibitively expensive. But with this new announcement, it looks like Panasonic is truly trying to carve out a niche for this technology. One of the cameras I am interested in is an HVX200, and the price-cut in P2 cards makes this option even more lucrative.

I wonder what will happen with Panasonic and Sony and Canon when Red releases its incredible Red Scarlet camera? It completely bypasses tapes or cards, and works direct to hard drive (I believe), and has a higher resolution than most of the current offerings.

So maybe there is a silver lining to not being able to buy a new camera just yet: there will be several new offerings by the time we are ready to acquire some new equipment…