Social media managers know that cost is an important factor in the making of a corporate web video. The overall cost depends on a number of factors, which we will be discussing in this article. Today a video can be shot with a Smartphone and uploaded on the internet without any cost involved in the process. On the other hand, the same video can also be shot by professionals and edited in a proper studio with desired effects. Needless to say, since the second one is a more expensive option and the second video will also be a better one in all senses. When a video is recorded, edited and made by a corporate video production company with some expenditure involved, it generally yields better results than videos shot in random.
Video recording technology has become very accessible and affordable today, and yet there is significant difference between a video shot by experts and amateurs. Only a good video production company, New York can understand the requirements of clients properly and can give a desired, polished output. This definitely brings in the question – how much does video production cost?
Answering this question may not be simple as there are several factors associated to the process of video production. These factors are discussed here to give the readers an overview of the cost-involvement process-
- Costs related to production and post-production: There are different costs for the expertise by different experienced teams. Just like different professionals have fixed rates for their services, video production companies also charge clients based on their skills, experience and difficulty involved. While amateur firms charge less (around $30/hour), the top-market teams may charge anything between $125/hour to $250/hour.
- Rates involved with the Concept/Idea/Script: Shooting random videos is mere waste of money! A client must have specific goals to achieve, he/she must inform the video production team what is desired, what is the end-goal? The production team, after clear understanding of the basic goals by the client- prepares the concept, scripts and storyboards. An experienced script writer would charge anything between $30/hour to $200/hour depending on the difficulty level and creativity required. Sometimes developing a concept properly and putting it into the right word format may require days.
- Cost pertaining to Editing: The success of many popular videos can be attributed to the editing table. This is where the style and main crux of the video are juggled, shuffled, placed in order. The more skills an editor possesses more are the chances that he/she would charge higher fees. The editing process also involves inclusion of graphics and animation elements into the video. High end graphics and animation can add a few hundred extra dollars into the invoice. A typical editing hour may require a client to pay $50/hour- $300/hour.
- Fees to be paid to actors/participants: A video may also require actors, presenters and professional cast to be hired. Different actors and participants charge different charges based on their skills. To give proper exposure to any brand or product through a video, sometimes hiring outside actors can be a good idea. Models and actors can charge anywhere from $60/hour to $500/hour based on their skills and experience.
- Camera costs: Camera costs depend on the quality of the camera. Today video production can be done with the finest quality cameras. Videos can be shot with a DV camera, DSLR, Full feature HD or even with high level models. Depending on the desired final output quality, a camera can be hired from $500 to $50,000. An average camera package will cost around $1000/hour.
- Costs related to other equipment: Only a good camera is not sufficient for an excellent video production. It also requires other tools and equipment. Different locations and shooting methods may need different kinds of tools and equipment. Starting from audio, lighting to framing- varieties of tools are required to create the desired effect.
- Fees for the Crew: A movie or a video is the end product of hard work of many people. There is a crew- a bunch of professional people that works hard on the set. Depending on the requirement, a crew may consist of 3-8 persons. The crew includes the director, assistants, cameraman, light-man, spot-boys etc. These persons may charge anything between $20/hour- $250/hour.
- Location and production costs: Where do you want to shoot the video? How much is the rent? Have you paid for the permission and other legalities? Are you shooting indoors or outside? How many days of shooting will be carried out? Multiply these with the shooting costs per hour.
- Narration, audio, music: Who will do the voice-over? The voice-over artists also need to be paid for the dubbing. Would your video also include music, sound effects, and background score? Good background score may cost around $50 for a 2-min video.
- License and other costs: What are the license fees that we are talking about? Where the video would be telecast? How much fees is required to be paid to the relevant platforms and concerned authorities? Are there any middlemen that needs to be paid?
Summing it up : This is a reasonable price considering the factors mentioned above and all other expenses that has to be taken care of. However, it is always better to remain open-minded with the budget of a video as the total cost may rise or fall depending on many factors.