Video Production Pricing Broken Down

Video Production Pricing

Video production pricing has changed dramatically in the past couple decades. There was a time, back in the day when flip cameras, YouTube and smart phones weren’t so common. Therefore you would find that video production then was a big investment. Those were the days when producing a video could cost more than $10,000 easily. Advances in technology have lead to the cost reduction of video equipment and software. Also there is the popularity of video hosting websites for instance YouTube and Vimeo that has allowed the process to be a lot more affordable these days.

When it comes to video production pricing there are two schools of thought. There are the people who think that video production is too expensive. They therefore believe they cannot afford the thousands of dollars it would require. This is what prevents them from utilizing video marketing for their business.

Those in the second school of thought are the ones that think that anyone can create a video. While anyone can create a video a professional video ad is much more than pushing the record button. It is also more than throwing footage on a computer and completing. These persons think that because videography is so prevalent it shouldn’t cost so much.

But we are here to tell you it is much more than that, at the same time it doesn’t have to cost a fortune to have it done well. What you should know is that there are many things that affect the total cost of video production. WE want to share those with you.

Video Production Pricing

Photo of a videographer

What Affects Video Production Pricing

Video production pricing varies greatly. You will find most firms will offer different packages and let you know what is included at a certain price point. They will also give you the option to choose what meets your need if a pre-existing package doesn’t meet your needs. However, packages are not just about a one man shoot or a one camera shoot. There are a number of other things that affect the video production pricing total that you see on your quote that may not be outlined. In a previous article we outlined the process of video production from start to finish. Here we try to break down the pricing for you from start to finish.

Project Management/Coordination

It is true that you get what you pay for and this is not just in the area of video production pricing. It is the same with lawyers, electricians, dentists and hairstylists just to name a few. You will find that for someone with more experience is going to cost more. So you could be paying $25 per hour for someone who has just graduated or who has less than 5 years’ experience. However, if you were to take on someone who has been in the field for years you may see them charging $250 per hour.

Script Development

Script development is very important for a video. It is here that important things are captured. If you don’t have a good script it doesn’t matter how good the lighting or the audio is. Script Development can cost anywhere from $50 to $150 per hour. This will cover the creation of a script, a storyboard and a video concept for your video.

Assets

What are assets you ask? These include images which could be licensed photos, stock photos or custom photos. Included in category of assets is also video which includes custom video, stock video, licensed video, stock illustrations, 3D models etc. You don’t want to run into any type of copyright infringement issues down the road so if you need video assets for your video there is a cost for those as well.

Stock photos can cost around $5 and stock video could cost around $10. Then there are Cut-Away and B-Roll shots which can be used in the video to make it more entertaining and to keep the audience engaged. These can increase your video production pricing costs anywhere from 15 to 50%. How much extra it costs depends on how much time is used to accomplish the shots. The  type of equipment used also plays a major role.

Talent

If you think anyone can be in a video then you need to think again. The on screen persona of everybody is different. Depending on the type of video you may want to be the person your audience sees. There may be the need for the person in the video to look like those you are targeting. Then you will need to have some talent to come in and that will cost you up to $500 per hour depending on who you want.

Special Effects

Included in this category are all titles, motion graphics and animations. These special effects can range from being relatively simple to elaborate and extravagant. Prices for special effect edition can run from $65 to $225 per hour. High quality 3D animation could cost even more based on how complex the project is.

Location

Where you are shooting, whether it is indoors or outdoors has a bearing on how much your entire project will cost. Other location factors that affect cost include;

  • Filming in multiple locations
  • Travelling to different locations
  • Needing a stage or studio
  • Shooting with a green screen

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You can find royalty free music or you can have a custom score created. If you need special sound effects and additional audio those will also affect the price. You can find royalty free music as lows as $11 for a short 2-3 minute track. If you are looking into having a custom score created then that will add up to $1000 to your total cost.

Crew

A crew can include a Director, a Director of Photography, a Camera Operator and personnel for lighting, sound, grip, makeup & hair, an editor and an animator or motion graphics artist. Not all these personnel are necessary for all types of projects. Most often the key personnel you will need will cost between $45 and $150 per hour.

Rendering and Compression In video production pricing

During the production process there are a number of file formats that shooting can be done in. This footage has to now be transferred to an editing system. The different file formats may need to be converted so that the editing system can work with them. Then, after the editing is done the video has to be rendered for its intended used. Then there will be the task of uploading or other distribution which is dependent on your needs. These processes can cost anywhere between $25 and $75 per hour.

So what does video production pricing come down to? It is not a simple answer as there are a number of factors that affect the total cost. Some of the above mentioned factors may not come into play with your project. And while you could always record a video with your phone and upload it to YouTube. That is not how you want your target audience to see your business. There are many variables that affect price but you will find that a professional video that reaches your audience is money well spent. There are different pieces of the video production puzzle that affect what you pay. Don’t be deterred by what you think it costs, instead find out what it costs and how you can get it done.

Summary
Article Name
Video Production Pricing Broken Down
Description
Video production pricing is affected by a number of factors, let's explore them so you can know what to expect when getting quotes.
Publisher Name
Solved Puzzle Agency
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