Question: How much does it cost to produce a video?
Answer: It depends!
When choosing a video production company, you will be quoted a range of prices based on their understanding of the video project. Do video production companies end up at their ballpark price? Sometimes, but there are a lot of project variables to scope before a vendor can give an exact quote. Be prepared with as many details or samples when you engage with a video production company.
There are typically two types of pricing models that video production companies use to start the pricing process:
- Line Item Detail:
Shooting day – $900
Editing – $125 per hour
Equipment charges
Outside expenses +20%
Project estimation for a 6 minute role play video might look like the following:
is a consultative process.”
| Script Development (1) | $ 3,500 |
| Camera Operator (2) @ $500 | $ 1,000 |
| Director (1) | $ 1,700 |
| Director of Photography (1) | $ 1,000 |
| Actors (2) @ $1,500 | $ 3,000 |
| Cameras (2) @ $500 | $ 1,000 |
| Light Kit (1) @ $350 | $ 350 |
| Audio (1) @ $900 | $ 900 |
| Make-up Artist (1) | $ 750 |
| Location Rental (1) | $ 500 |
| Editing Bay (4) @ $900 | $ 3,600 |
| Motion Graphics (1) | $ 1,200 |
| Custom Music (1) | $ 1,500 |
| Project Management | $ 5,000 |
| Total: | $ 25,000 |
Project estimation for a 3 minute motion graphic online marketing video might look like the following:
| Project Management | $ 2,000 |
| Script Development | $ 2,500 |
| Motion Graphic Development | $ 4,500 |
| Voice Over Artist | $ 750 |
| Audio Editing | $ 750 |
| Stock Music | $ 500 |
| Stock Imagery | $ 1,000 |
| Total: | $ 12,000 |
- Pricing per finished minute:
$1,500 – $5,000 per minute of production
$5,000 – $20,000 up to 3 minutes of video
$8,000 for a complex 60 – 90 second motion graphic video with voice over
$18,000 for a 2 actor, three-minute spot
Project estimations for those same projects above, would look like the following:
- Role play video with 2 actors 6 minutes long @ $4,000 a minute – $24,000.
- 3 minute motion graphic online marketing video @ $4,000 a minute $12,000
These bids include the basics for a video production project, but during the project discovery process a client might reveal that they want a known actor or a 3d model created for the video project. Both of these items would add to the costs project.
Pricing for video production is a consultative process. This ensures that the video production company is made aware of all of the necessary details about the video project in order to give an accurate price quote. As a video project gets defined and client budgets are to some extent revealed, all parties move to a certain point of agreement on price. Sometimes the client gives in on production requirements and the production company gives a little on price or hours to complete deal.
Be careful not to base your decision on price alone. Make sure you know what is included with every quote you receive. Insist on a breakdown of the budget items before signing a contract. This will make it easier to compare prices and services of different video production companies.
Additional articles:
Corporate Video Production – Cost Drivers Read full article »
Corporate Video Production – Questions to Narrow the Scope of the Video Project Read full article »
Copyright Xcelus 2015 – Article by Todd R. Corbett, CEO, Xcelus, LLC