Note that the clip is already colour corrected. In this tutorial we will use Magic Bullet Looks to apply colour grading, but you can just as easily use the plugin to perform colour correction.
Note that adjustment layers are now also available in Adobe Premiere.
Once you installed the Magic Bullet suite you will find the Looks effect in your effects panel.
Apply the Magic Bullet Looks effect to your adjustment layer. In the effects control panel you will now see the Looks effect applied and within the effect settings you will see a small 'Edit...' button.
Click on the 'Edit...' button to open up the Looks Builder. Here is a screenshot of the interface:
Note that our preview window (1) is currently empty. This is happening because we have applied Magic Bullet Looks to an adjustment layer and the plugin only displays the contents of the current layer - which, for an adjustment layer itself, is nothing. I hope the guys over at Red Giant do add that functionality at some point because it would make life a lot easier.
For now we can get around this problem by going back to our timeline and applying the Magic Bullet Looks effect to one of our base footage clips instead. We will then set up our desired colour grading in the Looks Builder and, once we're happy with the final look, cut and paste the effect back onto the adjustment layer.
Go back into the Looks Builder and this time you should see your actual footage in the preview window.
Now it's time to get our hands dirty and start applying some colour adjustments to our footage!