Step 1

Create a new document with a black background and a nice size for the amount of text you will be inserting. (I used 400x150 pixels.)

Step 2

Now create your text by using the text tool. Make sure it is a nice size that fits your image size. Also be sure to have your text be white. Your image should look similar to the following:

Step 3

Now duplicate your text layer and free transform it by hitting Ctrl+T on your keyboard (or going to Edit>Free Transform) and make it much taller than your original text. Be sure not to make it any wider however. Your image should be looking similar to this:

Step 4

On that same duplicated text you just made taller, go to Edit>Transform>Skew and drag the top left box to the left quite a ways. This will bring the top of your text to the left leaving the bottom behind, essentially. Now you'll have to move the text using your move tool back to where the bottom of the text is flush with your original text. Your image should look similar to the following:

Step 5

Now change the opacity of your duplicated text to 25%. This will create the shadow effect. Your image should look like...

And your layers palette should look like...

Step 6

Now select your original text and add an Outer Glow by going to the Blending Options. Use the following settings:

Your image should now look similar to:

Step 7

For the final step, go to Filter>Render>Lighting Effects and mess around with the positioning a bit but be sure to use Spotlight. My settings were as follows:

Here is my final image. I hope you enjoyed the tutorial and I also hope it will be of use to you.