I’d like to have two portfolio types, VIDEOS and BANDS. This way when a single item is clicked, it will display like this:
website.com/VIDEOS/single-portfolio-item
and
website.com/BANDS/single-portfolio-item
instead of:
website.com/PORTFOLIO-ITEM/single-portfolio-item
What’s the best way to add a new portfolio type?
I’d suggest the wp types plugin: http://wordpress.org/plugins/types/ to add new post types. However this is not an easy modification because you’ll need to change various things in the framework. Depending on your skills you need to hire a freelancer/coder who can implement the new post type for you.