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The video explains the concept of a video release form, which allows one party to use the appearance and voice of a person, entity, or trademark for various benefits, including digital media, physical products, and publications. It highlights common applications for video releases, such as advertising, documentaries, educational content, commercial videos, movies, news presentations, and public relations. The video also emphasizes the importance of using a video release form for any project involving recorded content of individuals or trademarks not contracted prior to recording. Viewers are encouraged to download a template and subscribe for more related content.