Welp, that depends on many factors. What type of video are you creating? How long will it be? How large of a crew will it require? What equipment is needed? What locations will be used? Do you need to hire talent? Do you need graphic animation? How much time is required to edit the video? To answer these questions it’s important to have basic knowledge of the video production process.
Skilled humans, time and expensive equipment…
Pre-Production – This is the planning phase which includes the time it takes for storyboard development, strategy sessions, location scouting, talent castings, creating shot lists and call sheets and other project management tasks.
Production – In this phase the video is shot or animated and includes film crew or animation team, on-camera talent, shooting time, location and equipment fees, etc.
Post-Production – This is the editing phase and may include post animation, music and sound mixing, voice-over recording, audio effects/foley, stock imagery, presentation meeting and deliverables.
Most small businesses I work with must strike a tight balance between budget and quality but when it comes down to it, you get what you pay for. The average video can cost anywhere between $800 and $2000 but for high-quality production here in the Midwest you will be looking at approximately $1,000 per minute of video. Producing video is an investment in your business and therefore involves a well-thought-out plan. Thorough planning helps to limit costly mistakes and setbacks. Here is a list of cost factors to consider:
- Detail in Design and Graphics
- Animation Complexity
- Length of Video
- Voice Over
- Supporting Content
- Distribution and Delivery
- Level of Production – talent/casting, shoot days, crew, location and travel, cameras, sound and lighting equipment etc.