From Concept to Completion: Understanding Video Production Costs
So, you’re thinking about hiring a video production company, and you might be asking yourself, “How much is this going to cost?” It’s tough to give a one-size-fits-all answer, but getting to know video production costs can definitely help you plan your budget and make smart choices for your project and overall marketing strategy.
Check out our comprehensive guide that breaks down the costs of video production from start to finish. It’ll give you a better idea of what to expect when working with a video production company, whether you’re a small business owner, a marketer, or just curious about the world of video production expenses.
DISCLAIMER: The costs we provide in this guide are intended to give you a general idea of what to expect when looking for video production services. The price ranges can be less or much more than what we mention here. It’s important to remember that these costs are not universal and can vary based on a number of factors, including the specific needs of your project and the company you choose to work with, their experience and your relationship with them. While we’ve based these figures on our past experiences working with businesses of all sizes and in a large variety of industries, as well as artists and independent projects, remember to do your own research and gather quotes from multiple sources to get an accurate picture of the costs associated with video production. Finding a company you trust with your vision is essential — check out this article for some tips on finding a video production company that fits your needs.
The pre-production stage of video production is where the planning and preparation happen. Here are some of the expenses you can expect during this stage:
- Planning and scripting: This includes the costs of developing the concept, writing the script, and storyboarding. Cost range: $1,000 to $5,000.
- Casting and talent fees: If your video requires actors or other talent, you’ll need to budget for their fees. This includes compensation for their time and talent, as well as any additional expenses such as travel and lodging. Cost range: $250 -$450 per day.
- Location scouting and permits: Depending on where you’re shooting your video, you may need to obtain permits or pay location fees unless your project is being shot at your place of business or a property you own. The video production company will also need at least one day of location scouting to plan the shoot accordingly. Cost range: Location scouting $250 – $500 per day. Locations Cost Range: Free to $3,000.
The production stage is where the actual filming of your video takes place. Here are some of the expenses you can expect during this stage:
- Crew fees: You’ll need to budget for the fees associated with your production crew, including the director, camera operators, and other crew members like drone operators. If your project is simple enough your production company could likely run the shoot with a skeleton crew (3 to 4 people max). However, the more intricate your project is, the more crew is needed to make sure things come out how you envision them. Cost range: $1,500 to $10,000 per day.
- Camera and lighting equipment: When you’ve figured out a concept for your video and communicated this to the potential video production company you’re looking to hire, one of the first things they’ll do after thinking of the crew size, is what kind of gear they will need to achieve the concept you’re after. This gear would include things like cameras, lenses, lights and light shaping equipment, sound gear, drones, etc. Depending on the complexity of your shoot, the video company may need to rent or purchase specialized camera or lighting equipment. Cost range: $1500 to $5,000 per day.
- Set design and props: If your video requires a set or props, you’ll need to budget for the art department that will be in charge of making sure every detail in the shot complements your story. Cost average start: $500 to $5,000.
- On-set expenses: You may need to budget for additional expenses that arise during the shoot, such as food and lodging for the crew. Cost range: $300 to $3,500 per day.
The post-production stage is where your video comes to life through editing, color grading / color correction, and sound design. Here are some of the expenses you can expect during this stage:
- Editing and color correction: Editing and color correction are essential processes that refine the final product. Editing involves arranging, cutting, and assembling video clips to create a cohesive narrative, while color correction adjusts the visuals to ensure accurate and consistent colors throughout the video. Both of these processes work hand-in-hand to enhance the overall quality, storytelling, and aesthetics of a video, making it more engaging and visually appealing for the audience. Cost range: $1,500 to $4,000 per day of editing.
- Sound design and mixing: Sound design and mixing are crucial elements that contribute to the overall audio experience of a video. Sound design refers to the creation, selection, and manipulation of audio elements, such as sound effects, music, and dialogue, to evoke emotions and enhance storytelling. Both sound design and mixing play a significant role in immersing the audience in the video’s narrative, ultimately enriching the viewer’s experience. Cost range: $500 to $2,500.
- Visual effects: visual effects (VFX) are a component that can enhance the visual storytelling and overall aesthetic appeal of a video. VFX can involve the integration of computer-generated imagery (CGI) and other digital elements into live-action footage, such as simple title and logo animations. Visual effects can also range from subtle enhancements, such as removing wires or correcting imperfections, to creating entire environments, characters, or action sequences. VFX can play a significant role in bringing a creative vision to life, adding depth and impact to the video, and captivating the audience’s imagination. Cost range: $1,000 to $10,000.
- Music licensing: Using your video online or if you plan to broadcast on TV, for example, you have to pay licensing fees for the music you use. Cost range: $250 to $2,500.
To provide a real-world example of successful video productions within various budgets, let’s take a look at a few case studies:
- Case Study 1: Pacylex | API | Forward Slash Campaign – API For the non-profit organization API we crafted a brand story video and a testimonial video to use as part of their Forward Slash Campaign, skillfully blending interview segments and scripted b-roll footage. These videos effectively showcased API’s expertise and their fruitful collaboration with Pacylex. Project Cost: $12,000
- Case Study 2: Brand Message Video Production for Barbell Base, a gym in Edmonton, Alberta. The project’s goal was to highlight the gym’s commitment to its members and connect potential clients to Anthony on a more personal level. Project Cost: $3,500
- Case Study 3: Caroil, a French oil rigging company, asked us to create a hype internal marketing video to showcase the rig they refurbished and modernized in Nisku. the video was meant for internal use as well as to include as a flagship marketing piece for potential investors . Project Cost: $6,500.
The cost of creating the right video content for your purposes can vary widely depending on your needs, but understanding the costs associated with video production can help you create a budget and make informed decisions about your project. We hope that this guide has provided you with valuable insights into the cots of video production.
- Real Estate Videography: A Winning Strategy For Your Brand
- How Much Does Video Production Cost? – A Step-by-Step Guide
- Choosing the Right Video Production Company for Your Business: The Ultimate Guide
- 5 Essential Tips For Using Video In Your Marketing Strategy
- The Art of Storytelling in Video Marketing: Enhance Engagement and Drive Sales
#videoproduction | #Photography | #yeg #yyc #alberta