Use the track matte effect and change the composite mode to matte luma
Great! Thank you.
I'm a new Premiere convert from fcp.
I LOVE hearing that. Ben happening a lot lately.
Don't get me wrong. I loved Final Cut. I've been using it professionally for 8 years. But their release with Final Cut X has reinforced one very important fact about Apple—their goal is to sell machines, not software. They put all their resources into creating powerful and innovative machines. The software they produce only serves to incentivize the selling of their machines. Anything they can do (with their software) to maximize computer sales is in their best interest. And they proved that with Final Cut X which I'm sure is a great tool in its own rite, but has been stripped of some of the professional features needed by professionals in order to make it more user-friendly which makes it a stronger incentive to a much larger market of individuals instead of just the smaller film/television industry.
The other selling point was that I'm also a huge user of Adobe products, especially After Effects. Premiere offers a tighter workflow solution between itself and AE.
Where Apple is all about creating powerful and innovative hardware, Adobe is the same with its software. So I feel it might be a worthy investment to side with Adobe in this particular case. But I will sorely miss Final Cut... best years of my life [insert tears here].