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Accelerated live video scaling and text overlay on wandboard?

Question asked by d.s.e on Feb 17, 2014

Is it possible to do hardware accelerated scaling of a live video stream and mabye adding a text overlay?

I played a little bit with gstreamer: The texoverlay plugin does exactly what I need, but the frame rate drops to about 0.9 fps when it's active, which is not acceptable.

Is there a better approach than using gstreamer?