Superstring

Superstring is a lyric video creator with a very user friendly interface. It is highly customisable, and the only disadvantages that come with the free version are that your exported video will feature a watermark and is limited to 360dp.
It is very useful for teaching students new songs, especially as an aid for non-specialist teachers. The only downside is that the software can be slow to load at first.
Suitable for Mac and Windows.