Start by drawing a circle using elliptical shape tool.
Double click the layer to open layer style window and enable stroke. Apply settings as shown.
Create a new layer. Create a circular selection using circular marquee tool.
Apply a gradient to the layer.
Create another circle above the gradient layer.
Duplicate the circles and arrange them according to this image.
Select all the inner circle layer and press Ctrl+E to merge the layers.
Create a small circle in a new layer and place it at the center of big circle.
Double click the layer to open layer style window and enable bevel&emboss. Apply settings as shown.
Select all the circular layers and press Ctrl+G to group the layers in a new set.
Select the group and then press Ctrl+T to transform.
Right click and then select perspective. Give it a perspective look.
Duplicate the big circle layer and move it below the the group.
Create a new layer and create a rectangle with some dark color.
Now create some small rectangles in the big rectangle. Add some cool gradient in these squares.
From filter menu select distort>>wave.
Apply settings as shown.
Rotate the layer.
Right click the layer and select warp.
Adjust the nodes to give it a flowing reel shape.
Move the layer below the group to finalize the movie reel.
You can use this reel to create media, movie or editing related logos. Create a new file and type your text. Arrange the movie reel in the text. We replaced "O" in movie with reel to create an interesting logo.
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