Video Production Cost?
26 July 2021
Producing professional video for your brand does not have to cost an arm and a leg. However, there are many costs associated with corporate videography rates and the cost of video production, which we’ll cover in this post. If you are looking for an actual estimate for your video project, we’d like to invite you to get a project quote using our easy to complete online form. Otherwise, read on to understand 10 factors that impact how much it costs to make a video for a brand, product, or company.
Interview on video production cost with Russ Pond of Dallas Video Production Company Top Pup Media for our Video Production Expert Series.
Video Production Cost Breakdown
1. Project Management and Project Coordination ExpensesThe role of the project manager or project coordinator is more than just an administrative role. The project manager or coordinator ensures that production costs don’t exceed your video production budget. They also manage the production timeline, making sure that everyone who is involved with a project hits their deadlines. Video production is no exception. In video production, the project manager or coordinator wears the title of producer. Typical Costs: You should expect to pay $25 an hour for a graduate fresh out of film school and $250 an hour for a veteran video production pro. On average, in Phoenix and similar metro areas, the executive producer of the project usually earns a flat rate.
2. Script Development CostsIf your video project requires a script, you’ll need to hire a professional script writer. The costs for scriptwriting vary, depending on whether you need a fully written script or an outline for your on-camera speakers to follow. Of course, the cost also depends on the length of your video. We can coordinate script-writing for you. Typical Costs: You could expect to spend between $50 an hour to $150 an hour for an experienced script writer to create a video concept, storyboard and script for your video.
3. Cost to Hire On-Screen Talent (Actors, Models)
4. Costs Associated With Other Types of Visual AssetsMost videos benefit from shots that supplement what is being said on screen. In the video production industry, we call these B-roll or cut-away shots. For example, if you are describing a product or service in your video, you might have cut-away shots of the item or service in action. Showing the audience what is being described in the video helps keep the attention of the viewer and also is more informative. Your video production budget will include estimates for these types of supplemental visuals, including:
- Still images
- Stock photos (royalty free)
- Licensed photos
- Custom photography
- Stock video (royalty free)
- Licensed video
- Custom video
- Illustrations/3D Elements
- Stock illustrations
- Custom illustrations
- Purchase 3D models
5. Costs to Add Special Effects to VideosIf your video project includes special effects, such as animations, motion graphics or title overlays (also known as lower thirds, captions and Chyrons), this will add to your cost of video production budget. We highly recommend that brand videos intended to sell something, promote a product or service, or build a pipeline of leads include some sort of call to action, which is where graphic special effects come into play. Typical Costs: Some videos require simple graphics, while others are entirely animated. Prices range from $65 to $225 an hour for basic editing. However, special effects could easily cost $95 to more than $300 an hour. The cost of high quality 3D animation depends on the experience of the animator and the complexity of the project.
6. Location Costs Associated with Video ProductionWhere are you shooting? Are you shooting indoors or outside? Do you need a sound stage or a studio? Are you filming in more than one location? Are you shooting with a green screen? Do you need to travel between locations?:
- Studio rental
- Fees and permits
- Local or travel
- Building rental
7. Music Licensing FeesWill special sound effects or additional audio be added to your video? There are some websites that offer license-free music, but always check the fine print (our video product cost includes this service). When it comes to adding music to your videos, you have three options:
- Stock music (royalty free)
- Licensed music
- Custom score
8. Video Production Crew CostsHow much does it cost to hire a camera crew? What about hiring a full video production crew? The number of people involved in the production of your video will depend on the complexity of your project, as well as the length of time and, of course, your budget. An animated video, for example, doesn’t need a camera operator, makeup or hair stylist, or lighting professional.
- Director of photography (DP)
- Camera operator
- Motion graphics artist/animator
9. Video Rendering and Compression Time
10. Overhead Costs of Video Production
- Equipment (cameras, lights, sound, studio, computers, software)
- Insurance (liability and workers compensation)
Bottom Line: How Much Does It Cost to Make a Video?Here are some figures you can start with to use as a general guideline for budgeting. A 2- to 3-minute professionally produced corporate video typically costs anywhere from $2,000 to $7,000. Most production companies agree that the average cost of video production is usually around $1,000 to $5,000 per finished minute, and we agree that it is a good starting point to consider when budgeting. When working with a production company, be transparent with your budget. Our best video production projects start when our clients say, “Here’s my budget, these are my objectives, what can you do for me?” If you don’t start with a budget, the production company will have to guess at one. Be cautious of working with a video production company that gives you a single price for a video or series of videos without breaking down what is going into that price point. So, back to the question, “How much do video production companies charge?” The simple answer is that there isn’t a simple answer. You could record a video on your iPhone and upload it to YouTube and it wouldn’t cost a thing. You could hire a big Hollywood producer to produce the same video and it could cost you millions of dollars. There are so many variables that go into the cost of video production that it is not possible to answer that simply and succinctly. Call us and tell us about your project, then we can dig into the real answers about video production pricing.
Video Production Price ListHere is a summary of all the costs we covered in this post:
- Project management and coordination: $25 to $250 an hour
- Script development: $50 to $150 an hour
- On-screen or voice-over talent: $55 to $500 an hour
- Supplemental visuals: 15% to 50% of total video production budget
- Special effects: $65 to $300 an hour
- Location costs: $95 to $400 an hour
- Music: $500 to $1,000 or more
- Video production crew: $25 to $150 per person per hour
- Video rendering: $25 to $75 an hour
- Overhead costs: $20 to $3,000 per day