The Padcaster transforms your iPad into an all-in-one mobile production studio that is rugged, elegant and versatile so you can create professional quality video content that inspires. With the included wide-angle lens, Padcaster shotgun microphone and dual mic/headphone cable, all you need is an iPad and your imagination. Use with your favorite apps to shoot, edit and upload video on the fly – or stream live right from the iPad.

from Padcaster Product page

Why not just buy a camera instead? Why use an iPad to create multimedia?

An iPad:

• Shortens the time it takes to produce content with the multitude of apps that allow capture, storage, editing, annotation, green screen and sharing
• Allows you to create interactive multimedia with apps like Touchcast Studio
• Provides a large view screen that allows you to see your creation

The Padcaster Studio provides:

• A Padcaster frame that allows you to attach more professional AV tools (lenses, microphones) to enhance the quality of the raw footage
• A mobile tripod to provide stability AND mobility, three different types of microphones, lighting and a teleprompter device that can be used with a mobile phone