MagicVideo-V2 is a multi-stage video generation system that integrates text-to-image, image-to-video, video-to-video, and video frame interpolation modules into an end-to-end pipeline. It generates high-aesthetic, high-resolution videos with remarkable fidelity and smoothness. The system uses a text-to-image model to generate a reference image, which is then used by the image-to-video module to create low-resolution keyframes. The video-to-video module refines these keyframes to high resolution, while the frame interpolation module smooths the motion. The system is trained using a joint image-video strategy, leveraging high-quality image datasets to improve video frame quality. Human evaluations show that MagicVideo-V2 outperforms leading text-to-video systems like Runway, Pika 1.0, Morph, Moon Valley, and Stable Video Diffusion. Qualitative examples demonstrate the system's ability to correct and refine outputs from the text-to-image module, producing smooth and aesthetically pleasing videos. The modular design of MagicVideo-V2 provides a new strategy for generating high-aesthetic, smooth videos. The system is evaluated through human comparisons, showing a strong preference for MagicVideo-V2 over other state-of-the-art methods. The results highlight its superior performance in terms of visual quality, temporal consistency, and structural accuracy.MagicVideo-V2 is a multi-stage video generation system that integrates text-to-image, image-to-video, video-to-video, and video frame interpolation modules into an end-to-end pipeline. It generates high-aesthetic, high-resolution videos with remarkable fidelity and smoothness. The system uses a text-to-image model to generate a reference image, which is then used by the image-to-video module to create low-resolution keyframes. The video-to-video module refines these keyframes to high resolution, while the frame interpolation module smooths the motion. The system is trained using a joint image-video strategy, leveraging high-quality image datasets to improve video frame quality. Human evaluations show that MagicVideo-V2 outperforms leading text-to-video systems like Runway, Pika 1.0, Morph, Moon Valley, and Stable Video Diffusion. Qualitative examples demonstrate the system's ability to correct and refine outputs from the text-to-image module, producing smooth and aesthetically pleasing videos. The modular design of MagicVideo-V2 provides a new strategy for generating high-aesthetic, smooth videos. The system is evaluated through human comparisons, showing a strong preference for MagicVideo-V2 over other state-of-the-art methods. The results highlight its superior performance in terms of visual quality, temporal consistency, and structural accuracy.