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The Cost of Video Production

Jun 14, 2016 | Film & Video Production

If you’re reading this blog, chances are you’re interested in getting a video for your website. Naturally, the first question to come to mind will probably be:

What is the cost of video production?

But asking a video production company how much a website video costs is a lot like asking a real estate agent “what does a house cost?”. The answer, of course, should really depend on the resources you have to invest – not on the actual average. For this reason, when approaching the idea of video production, the better question to be asking is: what kind of video can I make with my budget?  The purpose of this post is to introduce you to a few different products that can be achieved across a variety of budgets.

Point and Shoot Video: $800-$2,000

If you are looking to make a video where all you need to do is deliver a simple message to the camera, then a point and shoot video could be just what you need. A point and shoot video is great for businesses that want a product that looks more professional than a iPhone video, but doesn’t necessitate any bells and whistles. This is often the style for a series of YouTube videos or tutorials.   If you are going to do a point and shoot video, your spokesperson needs to know what they are going to say before the cameraman arrives. A big part of keeping the cost down is having clean, well-delivered sound bites that require minimal editing. 

What to Expect in a Point and Shoot Video
  • Professional video and audio quality (High Definition)
  • Filmed in a few hours
  • Small production crew — one, maybe two cameras
  • Possible use of a teleprompter
What not to Expect in a Point and Shoot video
  • Use of multiple locations
  • Interview multiple team members 
  • Pre-production
  • B-roll (visuals that support the dialogue)

Business Explainer Video: $3,000-$5,000

A budget in this range is often considered an entry level video. Bear in mind that entry level is does not need to be synonymous with bad quality, but rather a professionally done video that attains its affordability by keeping things simple. In this price range you should expect to have both professional audio and lighting, high definition images, and a nicely edited final product. However, for under $5,000 you are unlikely to get a cinematic masterpiece that brings your audience to tears; there is simply no time for in–depth pre-production and brainstorming of a unique concept. A common video at this price point is a Business Explainer Video which tells potential clients ‘who you are and what you do‘.  This type of video is often filmed in the style of an interview and features either an owner/operator or a key employee talking about the business. As the title suggests, the goal of the video is to explain who you are and what your company does. See below an example of what kind of video you can expect in this price range.
 
What to Expect in a Business Explainer Video
  • Basic Pre-production (simple concept)
  • Professional video and audio quality (High Definition)
  • 1 Filming day, 1 or 2 locations
  • 1 or 2 Interviews, often the business owner
  • Simple B-roll (visuals that supports the dialogue)
What not to Expect in a Business Explainer Video
  • Interviewing multiple team members
  • Multiple filming days/locations
  • Hair/Make-up artist

Storytelling Video: $5,000-$10,000 

Once you get into the $5,000-$10,000 range you can get a much more personalized product. This is the price range you want to be in if you are looking to have a video that tells a story or evokes an emotion in the viewer. The primary reason that the cost of video production rises for these types of videos is that they require more pre-production. Pre-production consists of concept development, storyboarding, scriptwriting, sourcing the relevant props or outfits, scheduling actors, location scouting, and the planning and organization that happens before the cameraman presses record.  
 
Storytelling videos are different from the ‘who we are and what we do’ videos in that they are much more of an artistic product. Because of this, it is important to find a video production company who has a style that you like. Hiring a video production company is like hiring a band.  Just as every band has a different sound and style, every video company will offer a unique approach, so it is a good idea to familiarize yourself with their work and style. Then, choose the company whose style you like the best. Storytelling videos are a powerful way to promote your brand, but as you can imagine, the stories don’t just tell themselves. A captivating storytelling video is the result of good pre-production, cinematic filming, and an artistic eye in editing. 
 
What to Expect in a Storytelling Video
  • Pre-production 
  • Professional video and audio quality (High Definition)
  • 2-4 filming days, multiple locations
  • Cinematic B-roll
  • Hair/Makeup artist 
  • Lifestyle models or actors

Corporate Video: $5,000-$10,000 

When larger companies do a Business Explainer Video, it is often far more involved than when a small company does the same video. The reason for this is that larger companies often need to feature a variety of employees from different departments and divisions across multiple locations. As you can imagine, each interview adds significant amounts of editing time and often requires specific b-roll (visuals that support the dialogue), and so the cost of video production for these types of videos rise. A good video production company can synthesize all of the long form interviews and b-roll into a 3-5 minute piece that showcases the features and benefits of the company. 
 
What to Expect in a Corporate Video 
  • Pre-production
  • Multiple filming days/ locations (different divisions or plants)
  • Interview multiple team members
  • B-roll
  • Hair/Makeup artist

The cost of video production can vary quite dramatically. The trick is to make sure you are comparing apples-to-apples as you are searching for a video production company. Business Explainer videos are a great option for smaller companies who are looking to bolster their online presence without breaking the bank. You just might not be able to exercise your creativity as much as you would like. If you’re looking to have that emotionally charged, cinematic video or looking for a unique concept then be sure your budget is in the higher range.  At the end of the day, if you choose your video production company wisely, you will have a professional and effective video for your website. 

 

 

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