Avid today announced new versions of its flagship video editing and audio production applications Media Composer 7 and Pro Tools 11, as well as two new Mac- and iOS- compatible hardware interfaces for recording audio at home or on the road. In addition to a number of new features, Media Composer 7 receives a significant price cut, bringing the standard edition to $1000, down from $2500. It will be available in June. ProTools 11, which Avid says "represents a quantum leap in creative power", gains a redesigned audio engine and 64-bit architecture. The standard edition of Pro Tools 11 is available for $700, with upgrades ranging from $300 to $500 depending on which previous version of Pro Tools is owned. The new version should be available later this quarter.