How Much Does A Video Cost? (2021)
How much will it cost to produce my video?
In the video production industry, this is one of those questions that never has a clear answer right off the bat. The reason for this is that corporate videos are not productized so creating them requires many components and variables and each one of those affects the overall cost to create that video. Obviously, this can be frustrating for a business or marketer that is just price shopping and needs to quickly find out which company not only fits their requirements but also their budget.
We always tell our leads that quoting for a video is not as straightforward as ordering a Starbucks coffee. We need to ask them a set of questions to be able to provide them with a quote.
In this article, we will go over the average cost of a video along with 9 questions we ask to determine how much your video will cost.
- Watch the Video Version
- Average video price
- 9 Questions that Determine the Cost of Your Video
- Why do you want to create a video?
- How long will the final video be?
- How many video deliverables do you require?
- Number of Shooting Days
- Where will we be shooting? (on-location or in-studio)
- How many people will there be in the video(s) and in what =-capacity?
- Are you providing the talent or do you need actors?
- Will you require any motion graphics or animations?
- What is the deadline?
Watch the Video Version
Check out the video version of this post if you prefer watching to reading.
Average video price
Different production companies will charge different prices.
On the low end, you have freelance videographers and new businesses which will charge under $2,500 for a video. On the medium end, you have production companies that have been in the game for over 5 years. These companies will charge anywhere from $3,500 to $10,000 per video on average. On the high end, you have the big players that won’t take on anything less than $10,000.
Note that all this depends on the scope of the project and how much work/man power will be needed.
These prices will cover many different types of corporate videos such as: Promotional, Explainer, Animation, Interview, Company Profile, Social Media, and etc.
The percentage breakdown of these prices are as follows:
- 25% for Pre-Production
- 35-40% for Production
- And 35-40% for Post-Production
Pre-production is concept development and project management.
Production is the actual shooting.
Post-Production is the editing process.
To learn more about these terms check out our video on how a video is made right here.
9 Questions that Determine the Cost of Your Video
Let’s now go into the questions we ask that determine the cost of a video:
Why do you want to create a video?
This is always the first question we ask because it allows us to lead into several questions that give us a clear understanding of our clients vision.
Asking why allows us to understand the purpose, key messages, conversion goals and more.
Ultimately, this helps us refer to past experiences so that we can figure out future costs.
How long will the final video be?
How long you want your video to be helps us figure out the editing cost as well as the amount of footage that we will need to capture.
It’s important to note that shorter length videos do not necessarily mean that they will be lower priced. For example, a 1 minute animation video could have the same cost as a 2 minute live action video. The factor we use to determine the cost of editing is the complexity of the edit itself. A two minute interview video is not the same as a 2 minute event compilation video.
Video length is also used to provide feedback on the goal of the video project. If a video length is too long for its intended use and audience, then the conversion rates will suffer. It is our job to inform the client of this and provide alternatives, such as shortening the length of the video, breaking it up into smaller videos or suggesting an alternative altogether.
How many video deliverables do you require?
Knowing how many videos you require allows us to figure out the editing cost as well as how much footage we will need to capture.
Number of Shooting Days
The number of shoot days is usually determined by the video production company since a client may not be aware of the amount of work that will be needed. For example, even though a client may think that a simple interview video can be done in a quick hour, the reality is that it may actually take a full day to a full day and a half day to film.
Where will we be shooting? (on-location or in-studio)
Shooting on a client’s location has no extra costs associated with it. However, shooting inside a studio will be an additional cost that needs to be factored in since you will be renting out space.
How many people will there be in the video(s) and in what =-capacity?
The amount of people that will be in the video(s) will determine the length of time needed to capture them all. Obviously, the more people there are the longer it will take to complete production.
This can also affect editing costs since it increases the amount of time spent editing.
Are you providing the talent or do you need actors?
If you are using your employees in the video then this is not applicable but if the video calls for actors to be used then this is another item that will need to be factored into the quote.
Bringing on actors requires the video production company to do a casting call and then an audition which will increase the pre-production cost. Rates for actors vary depending on whether they are union or non-union.
Will you require any motion graphics or animations?
Motion graphics or animations require the use of animators and motion graphics artists. The complexity of animation and motion graphics will affect the cost of post-production.
What is the deadline?
Deadlines affect pricing because if a project needs to be rushed then we will need to add rush pricing to the quote. We usually charge rush order on the post-production end, which would be the editing cost. We’ve been asked before if we can deliver a first draft edit within 24-48 hours so we will charge a rush order for those situations.
Thanks for making it to the end of the video. Hopefully this has given you a good understanding of how we price our videos as a video production company. If you are in the market for a video and you would like to get a competitive quote please go on our website and complete the contact form there. We’ll get back to you in under 24 hours.
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