How much Does Online Video Production Cost?
Professional grade video production was once too costly for small and even medium businesses but today even the smallest businesses are using online video content to their marketing advantage. Shooting, editing and finalizing online video content is no longer something that only big budget businesses can get involved in.
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But how much does online video production actually cost? That all depends on a variety of factors such as the total length of the video, the scope of the project, and various elements directly associated with the professionalism that goes into the production itself.
Factors Influencing Online Video Content Production Costs
Several factors influence the cost of online video content production.
Common elements that you can expect to be more influential of the bottom line include:
Crew Logistics
Primarily TIME. the more time that is spent at each phase of production from pre-production to post-production, the higher the total cost of the online video will be.
More complicated video concepts that require a more elaborate crew and more time to plan and produce will certainly cost more than a simple, how-to demonstration or something that is very basic in scope. Logistically, more time and more crew will cost more money, it’s really rather simple.
Experience
The more talented your crew the more the video will cost to produce. Just like you will pay top dollar for a highly experienced accountant to handle your bookkeeping versus what you would pay if a payroll assistant fresh out of college were to handle it, the same is true when producing online video content.
Talented crew members with a background of experience to bring to the table are going to cost significantly more that someone fresh out of film school, but the benefits are likely to be well worth the added cost.
Equipment
The more equipment and tools required for the production the greater the costs associated with the task.
Sophisticated lighting, industry leading graphics software, and top-of-the-line camera equipment used to film your online video production will certainly cost more than it would to whip out your iPhone and start shooting–but we like to think the quality is significantly better too!
Keep in mind
That with each of these cost factors essentially every element of the production will be influenced by these factors in some manner.
For instance, a basic online video production with a very basic concept that is produced by a “fresh out of film school” crew will certainly cost much less.
In terms of crew time, experience and needed equipment than a large-scale, multi-camera, and high-end production which will require extensive planning and shoot time from top-notch talent using only the most high-tech industry tools.
What Will it Cost to Hire an Online Video Production Company?
So, now that you know the factors that are figuring in to the overall cost that you’re going to pay for production of any online video, let’s take a look at what you can expect to pay if you hire an online video production company.
Essentially, hiring a video production company gives you the most bang for your buck as you’re hiring the entire film crew and all necessary resources that will come together for your video at a given time.
This means, you’re going to be paying for:
- A video director.
- A script writer.
- A video editor.
- A cameraman or crew.
- Actors or other talent.
- Narrators or voiceovers.
- Equipment.
- The studio rental or location permitting.
- Audio files and soundtrack.
- Video rendering.
- B-roll footage.
- Various miscellaneous production costs.
In total, the average cost of video is somewhere between $1500 and $10,000 per finished minute. Remember those factors we discussed in the beginning? Time, Experience and Equipment?
Those will all come into play in determining whether your online marketing video production costs are at the low end around $1500 per minute or the high end, upwards of $8,000 or $10,000 or more per minute.
Most finished videos fall somewhere in the middle with a cost of about $4,000 per finished minute.
Cost of Online Video Production
With an estimated cost of about $4,000 per finished minute you can expect your online video to cost somewhere around $2,000-$12,000.
Why? Because most online videos are somewhere between 30 seconds and 3 minutes in total length. Therefore, at a cost of about $4,000 per minute, it is safe to assume a cost that falls in that range.
A video that is 30 seconds in total length and created for social media or to share on your website will likely cost less than $4K while a video that is over 2 minutes long and prepared for your landing page will likely cost somewhere around $10K.
Planning
The only way to truly determine the cost of online video production is to outline the project and determine the scope in full in order to appropriately budget the tasks out.
If you call any video production company and they tell you a cost without first fully discussing your project with you, that should be a red flag that they are NOT the right company for you!
Give Beverly Boy Productions a call today to discuss your project and begin preparing a budget that’s appropriate for your needs. We’ll bring two decades of experience to the table to assist you in producing quality online video content that’s right for you.