Video does it all. It engages the audience. It ignites emotions. It assures. It leads to sales. And in the long run, it pays off big time. It’s certainly not too hard to see why video is so popular these days. But shooting a high-quality video can be difficult and time-consuming. Working with a video production company like Studio52 for your next video can ease a lot of that stress! We have expert production teams placed across the globe, and we’ve created over 20,000 videos since our establishment in 1977. In that time, we’ve worked with clients in virtually every industry at every price point, so you have come to the right place if you want to know the cost of video production.
Let’s break down the factors that affect the cost of video production, so you have a fair idea of how to budget and prepare yourself.
Factors that Determine Video Production Cost
How much an individual video cost depends on a number of factors, including the type of video, the video’s length and scope, and, of course, the timeline. With that in mind, here is a rough breakdown of the different factors that affect the cost of producing a high-quality video.
- Pre-production – Before Production Begins
If your video project requires a script, you will need to hire a professional scriptwriter. The costs for scriptwriting may differ, 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. If you don’t have a script yet, we can coordinate script-writing for you.
1.2 Type of Video
The cost of video production depends on what type of video you want to produce. An animated video explaining your business requires different production skills than a cinematic commercial with actors. The higher-quality video you need, the more you will have to spend.
1.3 Video Duration
Unless you’re comparing a feature film (longer duration) to short, branded content, the duration barely factors into video cost. Whether you’re making a one or five-minute video, the crew and equipment will mostly be the same. Plus, it won’t even make a big impact in post-production unless the video needs a lot of cuts.
- Production – The Creation Stage
If you want to use actors, models or voice-over talent for your video it will add up to the total cost. And again the cost to hire these professionals will also depend on their level of experience and expertise, as well as the amount of their time you will need.
Production crew rates depend on their region, market, gear, and experience. If you need more specialized crew and equipment, such as 360° video production or Drone videography you may have to spend more.
2.3 Travel Expenses
You can spend as much money flying out a production crew to shoot on location as on the production itself. Besides the transportation costs, travel expenses also include hotels, meals, props, studio sets, etc. However, it doesn’t mean that you should not travel to a location that perfectly fits your video marketing needs.
The more experienced video production companies will have a wide variety of tools and equipment on hand for each shoot. Whether you need a track dolly, a jib-arm, or a motion rig with a gimbal to create a shot with movement, the Studio52 production crew has all the high-end equipment that you might need. We also have a drone to capture aerial footage. You would also need a high-quality field monitor to know exactly what you are getting (or not getting) as you shoot. And that’s not all, you also need all the necessary audio equipment (lav’s, direction mics, booms, etc) to capture the audio perfectly. Together all these costs will be factored into the total cost of production.
- Post-Production – The Assembly Stage
Editing is an integral part of the production process. A professional editor will create mood, feeling, and substance. If there are several media elements, graphics, or multiple camera elements, several interviews, the project can become more complex. The number of post-production days doesn’t follow a back-to-back sequence. Typically, client reviews and approvals may take anywhere from a few days to 2-3 weeks. It’s very hard to predict the number of days it could take for editing the final video. After the client has a chance to review and approve a draft, that is when the editor moves on to the next step to finalize the video.
3.2 Music and Sound Effects
Music is very important to the overall mood of your video. It sets the tone and tells the viewer how to feel as they watch the video. It also complements what is happening on screen and, at times, music can be the most influential part of your video.
If you want you can also create audio that’s consistent with your brand. Good quality audio will stick with the viewers. These sound elements can elevate your video from good to great if done well. With our professional voice actors, experienced sound engineers, and state-of-the-art audio recording facilities we can assure you that you will get the best when it comes to audio.
3.3 Voice-Over / Narration
If your video needs voice work done you would have to hire a professional voice actor. The challenge today is that anyone with a computer and a microphone can call themselves a voice artist and it can be very time-consuming to find a good and reliable voice for your project. But, at Studio 52, we have groomed professional, talented, and experienced voice-over artists over the years, who are trained in more than 30 languages. With the unique skill sets to specifically provoke the thoughts, emotions, and actions of prospective viewers and listeners, we become the best choice for your video requirements.
3.4 Licensing Fees
If you are using any media assets that are subject to ongoing licensing or usage fees, you may have to factor in that cost too. The web continues to drive all costs down including licensing fees – but these fees still exist.
So, there you have it – all the important factors that determine the cost of a video. Of course, every video production company prices things in its own way, but that’s how most of us determine the cost of a video.
Having read all the above factors, be careful not to base your decision on price alone. Make sure you know what is included with every quote you receive. If you are not clear, insist on a breakdown of the budget items before signing a contract. This will make it easier to compare the prices and services of different video production companies.
And if you need assistance with what kind of video you need for a particular marketing campaign, you can always approach us with the idea and our production team will sit with you for guidance. With 40+ years of experience in video production, we have the expertise to help you out to reach your marketing goals.
Looking for a high-quality video production company? Studio52 can help. At Studio52 we have experience in creating eye-catching videos for our clients’ needs. We encourage you to take a look at the sample of our work and get in touch with us if you like what you see.