Video Production

The Cost of Video Production

25 Jun 2021

“What is the cost of video production?” People think the greatest way to lower production expenses is to make lots of cheap videos. Quality isn’t taken into consideration.

The cost of video production is affected by many variables, but creating low-quality material is not the answer. Instead, utilise your money to create fewer, but higher-quality videos. Doxxing your brand will negatively impact your brand image. Investing in quality may provide material that maintains its worth over time.

Quality is more important than quantity

You should adopt a quality, not quantity, approach to video creation. Great video is an investment, but it yields higher ROI. The bottom line is, every video you make should convey a unique narrative. To tell compelling tales, people, personality, and voice should be there. This requires a larger budget. But if you do, it will pay for itself in a few months.

E.g. Explainer videos should endure 3-5 years. So, your cost each year would be £4,000 to £7,000. This period, the explainer will be beneficial for increasing conversions, brand recognition, and consumer engagement. Video on your landing page has been shown to boost conversion rates by 80%. In email marketing, videos may increase open rates by 19% and click-through rates by 65%. If you embed videos on your website, this may help you appear on the first page of Google search results.

So, what is the cost of video production?

In a nutshell, it depends. In comparison to other content media, video production is much more expensive. Quality varies wildly with price. You may have high-quality commercial production, but if you just have £2,000 to put up, you won’t get what you want. Producing an effective video is necessary if you want people to view it.

Video cost varies by many variables. Samsung may spend over £500,000 to produce a commercial, or branded documentaries can cost £5,000. Each kind of film will have different production expenses based on location, crew, equipment, talent, and much more. Estimating your budget is easier when you create a video production brief. A short breakdown of all of the video elements needed for your film.

Cost of Video Production: A Breakdown

In order to learn how much your video production will cost, you will have to balance all of the following variables.

Format:

It depends on the kind of video you want to create. A video about your company needs different production abilities than a commercial with actors. The higher-quality footage you require, the more you’ll pay.

Duration:

The length of a video seldom influences the total cost of producing a video. It doesn’t matter whether your video is 1 or 5 minutes long. Besides, post-production requires a lot of cuts before it has a significant effect.

Pre-Production:

Before pre-production, including drafting a screenplay, site scouting, securing permissions, and arranging shooting, takes up time and money. And if your script changes, so will your video production expenses. You should create the screenplay in-house, in the event that you do have the budget. Some production firms provide the service in their production packages.

You’ll also have to factor in time and travel costs for the scout. To prevent this, use local team that already know where they can shoot. Intensifying your pre-production may increase your total project costs.

Crew:

Rates vary on their location, market, gear, and expertise. In order to produce 360° video, you may have to pay extra.

It will cost you more to hire actors or hosts, so budget for that. In most situations, though, you will not have to employ actors. For branded short docs, testimonials, and product videos, consider showcasing your staff or customers.

Time:

This is related to day rates. Gear expenses and the number of days involved usually go hand in hand. As the days of filming go on, your video production expenses will increase. Shooting for three days using the aforementioned rates would cost between $3,000 and $8,000.

A shooter who is booked for a full day should be charged at least double their hourly fee. To cover missed time and money they will not be able to do a second job that day.

Travel:

You may fly in the production team for a greater expense than shooting on site. Another component of travel expenditures include hotels and food. To minimise these expenses, use local production teams or freelancers who don’t have to travel. Even if you employ a production firm that is not from your location, they may outsource work to local freelancers to reduce their own expenses.

Equipment:

Even when videographers aren’t renting equipment, they’ll still charge you for equipment expenses. This is included in their daily fee, and it safeguards their pricey equipment. Equipment expense is also covered.

It may be necessary to hire more film equipment for a larger project. All production firms will charge these fees as operating expenses. If they don’t, they may add rent-related costs. Flexibility in gear and camera needs means saving money.

Post-Production:

Post-production is a significant component of video production. Plan for it. Your article will go through several rounds of input from your business, which includes narrative editing, colouring, and grading. Video editors focus on just one of them, therefore you may have to employ another editor for colouring. Also titles are a motion graphics creation.

KALIDE Video Production are at hand for your next project, no matter how big or small. If the cost of video production seems to high to fit into your marketing budget, maybe consider the KALIDE Partnership Program where you only pay a percentage of the profits you make from your video marketing campaign with us!

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