So you are embarking on a video production and you have one simple question. How much will it cost?
Unfortunately, simple questions often have complex answers. So let me break down what the costs of video production are so you can have a good idea of how to budget.
Costs can range from $20 an hour for a fresh university graduate, to $250 an hour for a top tier video producer. On average, most video production companies come in at around the $75-$200 an hour mark, which includes shooting, editing and directing. They will have experience under their belt and will deliver a professional result.
Editing and Graphics
Editing is an integral part of the production process. A professional editor will create mood, feeling and substance. If you require a video to move your audience, an experienced editor will cost $60-$200 an hour. Simple graphics are usually included in this price, but if you require complex 3D graphics work or animation, the costs can be $100-$300 an hour.
Do you need a recognisable face for your brand, or can you rope in a company team-member to present in front of the camera? Colleagues or friends are generally free of charge, and can help keep costs down. Professional actors and presenters can cary between $50 – $500 an hour, depending on demand and union fees. If you want George Clooney, it will cost you a cheeky couple of million.
While camera quality is important, it’s only as good as the operator. You could put a $60,000 ARRI in the hands of a university graduate and get a sub-par final product.
Cameras range from $2500 DLSR cameras, $15000 fully featured HD cameras, $25000 RED cameras and above. To decide on camera quality, think about how you will deliver the video to your audience. You don’t need an extremely high end camera if you want to present your video on youtube or on your website.
Cost of equipment can vary enormously. Will you need a crane? A Dolly? A Steady cam? 2 lights or 15 lights? A production company will give you a good idea of what you’ll need during initial conversations with them, based on your ideas for the project. Equipment can run anywhere from $25 and hour to $100 and hour.
I’ve left off a lot to keep this answer short, but the basic answer is this: You get what you pay for. Shop around and find a good balance between cost and quality.
If you’d like to discuss your next video production and budget, please contact us now.