Red, known for creating professional video cameras like those used in The Hobbit, has launched a new camera for filmmakers who might not have as much money as the studios behind The Hobbit.

The new camera is called the Raven, and it can film RAW video at 4,096 by 2,160 4K, at up to 120 frames per second as well as 2,048 by 1,080 ProRes at 60 frames per second. The new camera is priced at $5,950, however, that's only for the body — before you can shoot anything, you'll need to fork over at least an extra $10k.

The sensor itself has a dynamic range of 16.5+ stops, and is able to record both Redcode RAW and Apple's ProRes at the same time.

"Red Raven is a new category in our line up," said Jarred Land, President of Red, in a statement. "It's a younger, hungrier, more 'spirited' member of the Red family with a bit of a chip on its shoulder, ready to take on the entire sub-$10k market with images that users will be incredibly proud of."

The camera includes the same sensor as the company's $29,000 Epic, although it is a smaller version of this sensor. The camera is also fairly light; weighing only 3.5 pounds, meaning it could be lifted by a reasonably-sized drone.

Red is offering the new camera in two different packages, the first being a $9,750 "Jetpack" package designed for handheld shooting and drones. The second package is a $9,950 package designed for TV and documentary producers.

Shipping for the new camera is set for February 2016, and preorders have already started.

Via: Engadget