Some embodiments provide a computer readable medium storing a media editing application for creating multimedia presentations. The application includes a graphical user interface (GUI). The GUI includes a composite display area for displaying a portion of a timeline to which multimedia clips are assigned to create a composite media presentation. The GUI includes a user interface tool for dividing the timeline into segments. The GUI includes an editing tool for applying an effect to each of a plurality of clips in a particular segment of the timeline. The GUI includes a user interface tool for modifying a duration of at least one segment. Different versions of the segments may be created.