How Much Does it Cost to Host a Virtual Corporate Event?
Virtual corporate events are relatively common these days but they are still a learning experience for many brands that have only recently made decisions to adapt and adjust in-person events into virtual experiences as a result of COVID-19 and changed CDC guidelines on social distancing. While many brands are now focusing efforts on virtual corporate events, some still wonder what it costs to host one and whether or not it’s something that can be successful, and budget-friendly. So, how much does it cost to host a virtual corporate event?
Such a broad question is certain to attract a broad answer. The truth is, virtual corporate event costs range just as much as the details surrounding each corporate event do. Depending on various factors, the cost to host a virtual corporate event will depend on the size, scope, structure, and individual details of the event itself. Just as with in-person events, production rates will range accordingly as well.
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How Virtual Corporate Event Costs Add Up
Let’s take a look at how virtual corporate event costs can add up.
The most significant influencers and fees include:
- Virtual event hosting costs. Webinar software fees range from $40 per month to several hundred depending on the size and number of attendants.
- Virtual event production costs. Video production rates run between $1,000 and $10,000 per finished minute. A virtual event video can be produced for about $1,000 per minute in most cases.
- Individual event website costs. Where you’ll host the event, whether your own website or a website unique to the event, will play a role in the cost. New websites can cost about $1,000 to create.
- Virtual event technology costs. Filming the event on location will require lighting, sound equipment, and other inputs. You could spend between $2,000 and $5,000 or more per day to rent equipment or up to $1,000 per day to rent a studio to film the event in.
- Virtual event speakers and talent. Depending on who you secure to speak, this could range from a few hundred dollars to several thousand.
Sample Virtual Corporate Event Costs
Let’s take a look at how all of this adds up. Below are 3 types of corporate events with appropriate pricing for production, hosting, and all related expenses for the event.
This will help you to better plan a budget for your own corporate event:
- A large, multi-day event that includes multiple professional speakers, a professional production crew, and a multi-day studio rental for production – cost $100,000.
- A medium, single-day event with a single professional speaker. The event will include hosting platform at an entry rate of $10,000 and a production crew that will capture the keynotes as well as b-roll for supporting footage. – cost $20,000.
- A smaller, single speaker event that includes Zoom presentation with a basic subscription that allows for up to 1,000 people to attend. You’ll have a single cameraman to film and help with technical support. – cost $5,000.
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So, how much does it cost to host a virtual corporate event? It all depends on your needs, your budget, and what you want to achieve. Give Beverly Boy Productions a call to learn more.
