Update: Please note that Lightroom 5′s Slideshow module has been changed and a new preset is here: http://lightroom-blog.com/2013/09/17/timelapse-again-in-lightroom-5-2/
A while ago I published a Lightroom Preset and Template set to create timelapses on Lightroom News. I also put a video on YouTube about it:
We’re now up to version 3 of these presets/templates. They can be used to create 23.97/24/25/29.97/30 fps 720p Movies, by matching the Slideshow Template the Video Preset.
To install these presets:
Download and unzip the file below. Open Lightroom Preferences (Edit>Preferences on PC, Lightroom>Preferences on Mac). Click the Presets, then click ‘Show Lightroom Presets Folder”.
Open the Lightroom Folder. Drag the Video Presets folder into this.
If you already have Slideshow Templates made, then open your Slideshow Templates/User Templates folder. Next drag the Templates from LRB Timelapse/Slideshow Templates/User Templates into it. This is to avoid accidentally erasing any templates you’ve already created.
To use these Presets:
Make a collection for the images you want in the timelapse, organised by capture time. Apply the Template for the framerate you require. Click Export Video and choose the matching Video framerate for your Slideshow. Name the file and then press return.
The output file will be a 720p file with the chosen framerate. If your current media player does not play the file, try VLC from http://www.videolan.org/vlc/