Abstract: A system and a method for synchronizing performance effects with a musical performance. The method includes receiving a MIDI signal representing an audio track currently being played; determining, in near real-time, a tempo value of the said audio track based on a corresponding clock speed information as obtained from the MIDI signal; receiving information about a video file selected to be played along with the said audio track; determining, in near real-time, a tempo value of the said video file based on the received information thereabout; processing the said video file to determine required playback speed adjustment therefor to cause the tempo value of the said video to be in sync with the determined tempo value of the said audio track; and playing the said video file with the required playback speed adjustment applied thereto, along with the audio track in the musical performance.