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How Much Should a Video Production Cost?

Mar 10, 2014 11:42:00 AMBy Antonio Basile Posted in Video Marketing

This is one of the first questions you will have when producing your video. Video production cost can be as high or as low as your budget permits. It’s akin to just about anything else that has to be constructed or produced. It all comes down to budget, and doesn’t mean that the more money you spend, the better video you will have. There are many intricate parts to consider in order to receive the best results.

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Think Ford Focus to Ferrari. it comes down to budget and what your going to use the video for.

You can always get your hands on a smart phone or other HD camera, shoot a video and upload it to YouTube at nearly zero cost. If you want your video to be unwatchable. Alternatively, if you have the connections, you could hire a top Hollywood bigwig like James Cameron to produce your video for you. If you have a budget for roughly half-a-billion dollars, you might be in luck. These extreme alternatives will get you a video, but one may leave you less than satisfied and the other broke! The spectrum is broad, very broad when it comes to the cost of producing a video.

There’s more to a Video than just Shooting It

On the whole, there are many different elements and intracies that go into making an effective video. It begins with the pre-production which includes coming up with the concept, writing the script, planning, logistics, hiring crew or talent and location scouting. Then it's the conversion to the actual production process, which includes shooting the video. Yes, that may sound easy, but it will take much more than just pointing a camera and clicking the record button. Once you have the raw footage, you'll need to edit the video into a compelling story. To do this you'll need computer editing software and the talent or skillset to make a complete video.

Yes, much of the equipment that affect the cost of a video production have decreased over the years, some radically, but that does not mean the cost of hiring the skilled professional, who can take your video to the next level has.

On the whole, there are many different element and intricacies that go into making an effective video. It begins with the concept, then writing the script, then conversion to ability, location, and then shooting. Yes, it sounds easy, but it all comes down to what you want. The good news is that many of the aspects that affect the cost of a video production have been decreasing over the last several years. Some radically.     

What is the cost? There is no easy answer but there are a number of factors that will affect the cost of producing a video.

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How much does the average Video Production Cost?

What you pay for when it comes to video production can be broken down into time, resources and skillset. It takes time, resources and skill in every phase of video production for a quality video.

Concept/Script/Storyboard
Costs: Anticipate spending between $60/hr to $150/hr for a good writer. Someone that has experience writing for video. Because writing for video is so much more different than the writing a blog post or email series, your writer should be able to deliver a focused message in the shortest amount of time. 

Shooter/Videographer

Cost for a pro shooter could range anywhere from $600 per half day to $1500 per day. Your video may require additional camera operators and production equipment which could also factor in the cost.

Editing
Costs: Basic editing cost is between $60/hr to $175/hr. Post production and editing are very broad terms and the reality is that there are many levels depending on what the video script calls for. Adding 3-D animation, special effects, and advanced graphics require higher level of talent to achieve the desired results.

Graphics

Motion graphics and design can run between $100/hr and $300/hr.

Complex 3D graphics or key frame animation can run around between $1000 per finished minute.

Actors/Presenters
Costs: Presenters, actors, and models can cost from $50/hr to $500/hr and more, depending on who the actor or model is.

Camera
Costs: Spending will be between $25/hr to $400/hr or more, depending on which digital camera package is utilized. High end cameras, lenses, and stock can easily go over $1,000/hr. Cameras range in all different formats, sizes, specifications and purpose. Though consumer cameras have decreased dramatically over the years, professional cameras still can carry a hefty price tag well over $25,000 - and they may not even cover the lens which could run into an additional 10's of thousands of dollars.

Crew
Costs: Between $25/hr and $175/hr per-person for a skilled crew.

Location and Production Time
Costs: Expense depends on the number of days required for shooting. Some companies offer discounts for extended days or scheduled shootings. What about travel and location permits? Little additional things can add up quick

Studio Shooting
Costs: Expenses can be between $100/hr and $1000/hr depending on the studio size and capabilities.

Set/Props/Equipment/Extras
Costs: Some videos require a custom set, props, and production equipment to produce. 

Stock Footage
Costs: Stock images can cost as little as $3, and good quality HD stock footage can cost roughly $50; however, for superb quality or rare images and footage, it can be significantly more.  

Narration
Costs: Voice-overs, if required, have become less expensive over the years. Plenty of artists work from home and are capable of producing great work compatible with most budgets. Usually around $100 to $400 for a two-minute video should suffice. Much depends on the experience and demand for the artist.  

Audio Files
Costs: A well-done music video can cost as low as $30 for a two or three-minute track. Custom audio can cost $1,000 or higher depending on the experience and what is needed from the person.

Teleprompter
Costs: Teleprompter and teleprompter operator normally run between $350 and $600 for a half day.

Geographic Location
Costs: You will pay between 25% and 50% more if you shoot in a large city.

Digitizing/Transfers/Rendering/Uploading
Costs: On occasions the cost are hidden and sometimes they are line items. Tape transfers are still costly at hundreds of dollars. Rendering and uploading time are frequently concealed in the costs but can also be charged on an hourly basis from $30/hr to $75/hr.

Length of Video
Costs: Longer videos will naturally cost more. An extra minute of video may only cost 10% more if the extra requests have already been planned into your general workflow.  

Licensing/Union Fees
Costs: Fluctuates depending on the project and talent needed.  

Hosting
Costs: Hosting can be fairly inexpensive $5 to $10 a month depending on bandwidth usage. Don't forget about delivering your video in the best possible format. You may need a CDN (Content Delivery Network) to deliver your videos to your audience.

The above costs are not “built in stone,” they only give a rough estimate of the prices you will incur when producing a video.

So there are numerous factors that go into pricing your production and it can be confusing if you are not familiar with the production process and what it will take to produce the results you are looking for.

The easiest way to get an idea of how much your video production should cost is to contact us for a free review of your project and your goals.

Philadelphia Video Production

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Posted in Video Marketing