There are more tools available to adjust the media output. Add an object to Editor

select Edit Object,

and navigate to Filters Tab. Click (+) Add New Filter and you can see all filters available. With Color Mask Filter, you can turn the selected colour of the media to transparent (alpha, default color: black).

With Image Filter, you can adjust media colour, brightness, etc. With the Volume filter, you can adjust the audio volume level of the selected media object. Feel free to experiment with all filters available.