There are times when you want to produce square-shaped video, such as for social media feeds. You can't do that with iMovie, but you can take video into Keynote and export it as true square video. You can zoom in to a portion of the video in the square, or include the entire width of the video with text and graphics above and below it.
Want to know more about how to use Keynote on your Mac? Check out this MacMost course!