How Much Does Video Production Cost?

Posted By: Gina Circelli

You want to know: What does producing a video cost?

Ah, the age old question that video production companies hate to answer, while agencies and clients are just looking for a bottom line.

And I’ll cut to the chase before you think I have some magic number for the cost of video production. I can give you a link to get a price for your video project (skip to the last paragraph for that). But this is the more valuable offer: I can share with you what you are typically paying for in video production and ways to make sure you’re not being taken for a ride.

Let’s talk about that for a second. We are friends and partners with video production companies all around the world. We want to vouch for our friends and say these teams of hard workers are not out to take advantage of customers. This business has no room for deception for any company who intends to keep a clean reputation. There is also a wide variety of strengths from company to company, accounting for the variety of budgets you’re quoted for the same creative concept.

What Factors Into Video Cost

Here’s what contributes to your video’s budget:

– Creative – Are you developing this or are you asking the production company to. You may think you’re making it easier on them by giving their team some freedom. While handing over creative to your production agency will likely land you a stronger product (after all, it’s our expertise to know what’s working in the visual media), it may cost you a little more.

– Scriptwriting – Would you like the video production company to write a script? Do you require several rounds of review before finalizing a script? This can bump up labor costs and lengthen your production timeline.

– Voice Over/Talent – If you use professional talent, your production value goes way up! The fees for casting and talent agencies also bring your budget up.

– Locations – Do you have a location secured for your video? Otherwise, there will be scouting and location fees (or studio fees) your production company will need to cover.

– Crew and Equipment – Having the right sized crew and necessary equipment makes or breaks your final product. You can’t skimp here. If a director needs a larger art department to make a Texas prairie look like a winter wonderland in mid-July, it’s important to budget for that. This goes back to scripting a story within your price range.

– Insurance – With a reputable production company, you’re going to be paying for insurance on set. You need this. Think people doing labor-filled work with expensive equipment in delicate settings. Production teams embody precision, but accidents happen and insurance will save us all major funds in the long run.

– Post-Production – Piecing everything together takes time and major skill. The longer the edit, the more hours an editor has to work.

Additionally, graphics and animation are usually non-negotiables in video products nowadays. But these additions take more time and even more specialized editors. So if you’re looking to have a live action character walk through an entirely animated world, you can expect animation fees to account for the majority of your budget.

– Client Services – This is more than snacks on set. The key to making sure our hiring client is well informed on a project’s status is client services. It involves client stations on location, implementing client notes effectively, and accounting for every round of red tape you have to take your video through internally.

That means, if 15 internal teams need to review and provide notes on your video, that is 15 rounds of revisions for the editorial team at a production agency. Additional rounds can increase your budget.

Is It Worth It?

I’m 100% biased, but yes! You can’t beat professional-quality work. You don’t ask for free labor from your nephew to extract your wisdom teeth. It’s not worth the pain, missteps, and possibly disastrous consequences. So why trust him with shooting your broadcast spot on his iPhone? Yes, that sounds extreme and absurd, but as a team who has spent decades getting good at what we do, we believe in investing in work that will bring on the ROI.

So if you’d like an exact number for what it will cost to produce your video idea, we have your back. We can give you ballpark range to target, or we can give you an exact bid for how we can get your project out the door. Just drop us a line or give us a call. It is, after all, our job to help you out.