We develop a full density-matrix theory describing the holographic mot
ion picture, the direct recording of a real moving image into an inhom
ogeneous spectrum of a medium using spectral hole burning. The main em
phasis is on the time resolution of the movie. It is concluded that, w
ith a frequency scan rate faster than the square inverse of the charac
teristic time of the event, the moving image is faithfully recorded, t
he only limiting factor being the bandwidth of the medium. From the nu
merical simulation, the ultimate time resolution of the order of nanos
econd is achieved when the scan rate is above 5 x 10(16) Hz/s for a cr
yogenic Eu3+:Y2SiO5 crystal. An experimental demonstration of the movi
e was performed for this crystal.