If you're upgrading from a previous version, those prices drop to $119.99 and $79.99, respectively. Note that Premiere Elements is not a part of Adobe Creative Cloud service. These are one-time fees-no subscription is needed. You can get Premiere Elements bundled with Photoshop Elements for $149.99 or as a standalone app for $99.99. The program trails Editors' Choice winner CyberLink PowerDirector in the breadth of effects, rendering speed, and formats it supports, however. Or you can ignore all that and use its automated tools.
In addition to being extremely easy to use, it lets you go fairly deep with multitrack and keyframe-based editing. But really, anyone who wants to create compelling videos without tackling a complex professional application like Premiere Pro or Final Cut Pro can take advantage of Premiere Elements.
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