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 producing a video requires many components and variables and each one of those affects the overall price to create that video. Naturally, this can be frustrating for a business or marketer that is 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 project is not as straightforward as ordering a Starbucks coffee. We need to ask them a set of general questions to be able to provide them an approximate quote.
Some sample questions that we ask are: How many shoot days are required? How many videos will be needed? What is the deadline? What are the details of the project? And more.
In this article we will go over the questions that Lapse Productions asks leads and clients when providing a competitive quote. We will also discuss some sample rates that we have provided for certain types of Corporate Videos.
- 10 Questions We Ask to Determine Video Pricing
- 1) What is the video about?
- 2) How long will the final video be?
- 3) How many video deliverables do you require?
- 4) Number of Shooting Days
- 5) Where will we be shooting? (on-location or in-studio)
- 6) How many people will be in the video?
- 7) Are you providing the talent or do you need actors?
- 8) Will you require any motion graphics or animations?
- 9) What is the deadline?
- 10) Do you need a rush order?
- Average Video Pricing
- Do You Need A Video?
10 Questions We Ask to Determine Video Pricing
There are 10 questions that we will ask you to determine video pricing. They are:
- What is the video about?
- 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 be in the video?
- Are you providing the talent or do you need actors?
- Will you require any motion graphics or animations?
- What is the deadline?
- Do you need a rush order edit?
Let’s go into more details about the 10 questions that we ask to provide an accurate quote.
1) What is the video about?
Knowing what your video project is about will help us several ways. One of which is that it allows us to refer to our previous experiences so that we can better determine the costs for the project. It also allows us to provide consultation and feedback for the clients marketing strategy.
For example, there may be a situation where the client needs to market a new service and they would like to produce a promotional video for that service. They may not be aware that they can also create an explainer video that can aid in informing and educating the client on that service rather than a simple introduction to the service.
2) How long will the final video be?
The length of the video helps us in determining the editing cost of the video 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 cheaper. 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.
We also use this information to provide feedback on the goal of the video project. If a video length is too long for its intended audience then the conversion rates will suffer and so it is our job to inform the client of this and provide another solution, such as shortening the length of the video or breaking it up into smaller videos.
3) How many video deliverables do you require?
Just as one coffee is not the same price as two coffees, one video is not the same price as two videos.
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.
4) Number of Shooting Days
The number of shooting days is sometimes determined by the video production company since a client may not be aware of the amount of work that will be needed for the video to be created. For example, even though a client may think that a simple interview video can be done in a quick hour, the reality is that on average that may take half a day to shoot (our half days are 5 hours or less). The breakdown of that simple interview video is 1 hour to set up and another 30 minutes to an hour per person. So right there with only one person being interviewed, we have already used up 2 hours and we haven’t even shot any broll footage.
There may also be times where there are deadlines, availability issues, or budgetary constraints that may limit the amount of shooting days. If the shooting days are limited but the production company informs the client that they need more time to capture their vision then you can see how compromises to the vision will have to be made.
5) Where will we be shooting? (on-location or in-studio)
Shooting on location for the client has no extra costs associated with it. However, shooting inside a studio will be an additional cost that needs to be factored in. Studio costs are usually covered by the client and are not included in the quote by the production company.
6) How many people will be in the video?
The amount of people that will be in the video 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.
7) Are you providing the talent or do you need actors?
If you are using your employees or have even hired actors then this alleviates the need for the video production company to include this in the quote.
If the video production company needs to hire actors then this will need to be factored into the quote. Rates for actors vary depending on whether they are union or non-union. It also increases the amount of pre-production time needed. The reason for this is that a casting call for actors will need to be made and the client will need to provide approval for the casting.
8) Will you require any motion graphics or animations?
Motion graphics or animations require the use of animators and motion graphics artists. This adds a much higher cost to the editing process since it is outside of the expertise of an editor.
9) What is the deadline?
Knowing the deadline allows for planning of the entire project. Shorter deadlines affect the pricing more than longer deadlines because certain crew members may not be available. This results in having to hire crew members that would be available and their rates will affect pricing.
10) Do you need a rush order?
The average time to create a video from start to finish is about 2 to 3 weeks, however, if you are on a tighter deadline then we do a rush order for your project. Rush order is an additional charge that is usually applicable to the post-production process of the video (the editing).
Average Video Pricing
Now that we’ve gone over the questions we ask to determine our quote let’s go into some sample quotes.
Based on the answers we get we have quoted our average single video projects between $2,500 to $6,000 CAD. These videos range from Promotional Videos to Explainers Videos to Client Testimonial Videos. Projects that only required a videographer ranged in the $900 to $1,500 CAD and projects that only required editing ranged from $1,500 to $3,000 CAD.
Do You Need A Video?
In conclusion, we’ve examined the 10 questions that Lapse Productions uses to determine an accurate quote for your next video project. We hope that this has given you a clearer understanding of our process and the work that goes into providing pricing for a video project. If you are interested in creating a video feel free to contact email@example.com to get started.
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