Actually, that´s just scratching the surface, for DeVeDe will actually do lots more. For example, it allows you to add files to your project, such as subtitle tracks you may have downloaded along with a movie. It also creates chapters, so you can jump straight into whatever part you want to watch.
DeVeDe is in the repositories, To install it in Ubuntu do as follows:
sudo apt-get install devede
Or install it from your favorite GUI package manager. DeVeDe will now appear as another menu item under Applications > Sound and Video.
Please also visit the home page for this application HERE.