A video effects application executes on a client device having an image capture device and receives video data captured by the image capture device. The video effects application extracts information from the captured video data and stores the extracted information as metadata associated with the captured video data. For example, the video effects application identifies objects in the captured video data or identifies optical flow of the captured video data and stores the identified objects or identified optical flow as metadata associated with the captured video data. The video effects application stores information describing modifications to the captured video data in association with the captured video data. When the captured video data is presented, the captured video data, associated metadata, and information describing the modifications is communicated to a renderer, which uses the metadata to perform the identified modifications to the captured video data when presenting the captured video data.