Usually video is required, just so they know it's actually you doing it -- if you meant sending in a tape for your audition (I noticed some schools have this rather than auditioning in person). If you meant to record the audition itself...*shrug* Go for it. Come to think of it, that's probably a good idea! Plus, if you get in, you can look at your audition tape and judge whether or not your money was well spent
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