Creating a Movie Reel

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.