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The breakdown and cost of making your video

All of our clients have the same question. Whats the cost and what will we get in return!? Well, I'm glad you asked; but its a little like asking "how long is a rope?" Read below for the behind the scenes look at the breakdown!

We  been receiving SO many emails asking about the cost of doing video and quotes for their various video ideas.  We’re pumping out the quotes and thought it suiting to blog on the cost of business video.

So, ‘what is the cost of business video production’?…here are 15 factors (roughly listed in order of importance to the overall quality of the video) that affect the price of a video:

1. Video Production Expertise.

The old adage, ‘you get what you pay for’ comes to mind here. When doing your homework on video production companies, check out their sample work to gain an idea of their ability and level of production.

Costs: You can pay $25/hour for a recent film school graduate or $250/hour or more for a top flight video veteran. On average most production companies will charge between $75/hour and $150/hour for the people involved in key activities such as shooting, editing and directing a corporate video.

2. Pre-production (Concept / Script / Storyboard).

Many businesses are jumping on the web-marketing train and making a video just for the sake of having a video. The results of this are hit-and-miss. They may still reap some benefits of having video on their website, however video marketing is a VERY valuable tool if used properly and intentionally. You want to make sure your video will be ‘going to work for you’ to bring in some solid business. This begins with having a clear understanding of the objective you are trying to achieve. Then, do you trust the people creating your video? Do they have the experience and guidance to convey your message/product in a way that will move your business forward?

Costs: Expect to spend between $60/hour and $150/hour to develop a concept, script and storyboard that serves as the blueprint for you video.

3. Production (filming) time and Locations.

The number one factor here is the total amount of production (filming) time required. This is where good planning and organization can save you time and money. Consider the following factors; how many locations? how far apart are the locations? where are you filming? how long will each interview/shot take? are you inside or outside? if you are filming outside is weather a factor? how much set-up time is required?

Costs: It’s simple math, two days of shooting is obviously twice as expensive as one day. {however, if shooting extends for many days or is regularly scheduled then most companies offer a discount}

4. Post-production (Editing/Graphics).

The editing process gobbles up a lot of time, it is very detail-focused work. Editing is where you create the style and substance of the video – you sequence all of the available footage into a cohesive story that communicates your key messages in a clear and engaging manner. Editors arguably should be the most highly paid (and skilled) in the entire process – quite often they are not. Graphics and animation are also part of editing process, as it is difficult to separate the use or importance of graphics and animation from the editing process.  Some videos require simple graphic elements and some videos are completely animated.

Costs: Typical editing costs run between $60/hour and $175/hour. (Complex 3D graphics or key frame animation can cost between $100/hr and $300/hr).

5. Equipment.

The more experienced video production companies tend to have a wide variety of tools and equipment on hand for filming. A track dolly will create a shot with movement, field monitors will help you know exactly what you are getting in the shot, professional audio equipment (lav mics, direction mics, booms) are used to capture the perfect audio, not to mention proper lighting for a variety of shooting scenarios as well as a selection of lenses (wide angle, fixed focal length, etc).

Costs: Equipment cost can run anywhere from $25/hour to $100′s/hour or more depending on what specific equipment is required.

6.Crew.

Have you ever watched a movie or television show being filmed and wondered why there were so many people standing around on set?  Most business promo videos don’t require more than two people (sometimes one is enough), but depending on the complexity you may require more crew. Concept videos or commercials may require a cameraman, sound man, director, maybe even an interviewer.

Costs: If you are simply wanting a business web video, you can cut your costs considerably by choosing a production company that sends just one or two people trained in all areas (filming, lighting, audio, support, interviewing).

7. B-Roll.

B-roll (often called cut-away shots) is secondary footage that adds meaning to a sequence or disguises the elimination of unwanted content. Say you are interviewing a business owner who is talking about their products, you should cut-away to shots of the various products as they speak. Showing the viewer what is being described in the video is more informative and also helps to keep the attention of the audience.  It is also worth mentioning, the quality and creativity of b-roll captured will largely dictate the look and feel of your video.

Costs: Capturing great b-roll often requires planning, time and the use of cinematic equipment (jib, dolly, slider, glide-cam and now drones etc), which will obviously increase production costs.

8. Narration.

Will you need a voice-over to tell your story or to tie the video together?  We always suggest some form of audio to support what is being shown on screen, you will have a much more powerful video.

Costs: Many voice artists work from home and can produce great work for almost any budget. $100 – $400 for a 2 minute video is reasonable depending on their experience and demand.

9. Music Licensing.

You cannot just pick any song you like from iTunes and slap it on your video, you must obtain a license to use copyrighted music.  That is, unless you like legal fees and incarceration?? YIKES!

Costs: Good quality music for video starts as low as $60 and run upwards of $400 for a two or three minute track. Often the price of the music license is dependent upon the use of video and the size of the company making the video. Custom audio is also an option. Hiring an experienced musician create a custom track for your video can cost $1,000 or more.

10. Teleprompter.

Even the most rehearsed and experienced speaker can bomb a shoot when placed in front of the camera’s and lights. Some tend to loose their train of thought when they see that little red light flashing on the front of any camera!  Using a teleprompter may produce a less natural feel, but it just might save a shoot from tanking.

Costs: Teleprompter and teleprompter operator usually cost between $350 and $600 for a half day.

11. Media Ingestion, rendering and uploading.

Video recording uses up a lot of space on memory cards, especially if shooting in RAW. It takes time to transfer the content into your editing system, and after you complete the edit you have to render it to a presentation format (for web, for broadcast, etc.) Then, depending on where it’s going, you may have to upload it (to a web server, YouTube, Vimeo, etc). This can eat up a lot of computer and human time, which you pay for.

Costs: Sometimes these costs are buried, sometimes they are line items.  Rendering and uploading times are usually buried in the costs but can also be charged out at an hourly rate ($30 – $75 per hour).

12. Length of the Video.

Typically, the longer the video, the more it is likely to cost. A website promotional video usually runs 2-3 minutes, but can vary depending on the style and purpose. However, consider this…filming a basic 30-minute interview (with no b-roll and limited editing) is much cheaper than creating a 30 second commercial.

Costs: So…consider longer to be more expensive, but like I said it depends entirely on the style of video. Adding an extra minute of video might only cost you 10% more if you have planned the extra requirements into the overall workflow and initial filming.

13. Language and translation.

More and more companies are requesting close captions to aid those with hearing impairments. Or maybe you need language versioning or onscreen text translations.

Costs: Language versioning can add 15% to 20% to the overall cost of the job. (Editing and proofing of different languages is usually much more time intensive than one language alone.)

14. Miscellaneous fees.

Don’t forget to consider the miscellaneous items when budgeting. Video production like many other services has ‘Miscellaneous fees’: Travel costs, meals, mileage, hotels, transportation, out-of-pocket… it all adds up.

Costs: Usually in the $100′s and sometimes in the $1,000′s of dollars on larger shoots.

15. ‘Other Costs’.

– Hair and Makeup: If you’ve got the budget it is a great idea to go and get your hair and makeup done professionally on the day of the shoot. Proper make-up makes a significant difference on camera, especially in this day and age with high-definition – they really do capture every detail. On lower cost projects a brush and a compact of neutral powder (to remove an oily or sweaty appearance on the subject’s face) can go a long way. A professional Hair/Make-up artist hired for on-site filming can range from $30/hr to $75 per hour.

– Location Rental: Depending on what you are shooting you may have to pay for the use of a desired location and this can be well worth the cost. If you are filming a basic interview with little b-roll to capture the audience attention, it is important to find an interesting and engaging location as the back ground.

Costs range considerably – you can pay your local community centre a couple bucks or you can get access to an art gallery for hundreds to thousands of dollars.

Now that you have an idea of the factors (and their associated costs) involved in producing a business web video, let’s see if we can really answer that question ‘what is the cost of business video production’?
At FireCanvas a healthy starting point for a 2-3 minute promotional business video may cost between $2500 and $5000. This adequately covers many of the 15 factors described above. You can trust that no one will work harder than us to stretch your budget to provide an outstanding quality video that will move your business forward.

We would love to connect with you, take you for coffee and hear your business video ideas to give you an accurate quote. Please don’t hesitate to contact us at FireCanvas!