Are There Industry Standard Rates for Video Production?
Video industry standard rates for video production rates vary as much as the quality and style of videos vary. That’s to say, and there are no “industry-standard rates” for video production. However, there are some industry standard rates or expectations for each resource that is utilized in video production, such as a videographer, director, film editor, and scriptwriter.
Factors of Industry Standard Rates
While there are no industry standard rates for video production or for any service included in video production, there are several factors that affect the cost of each service. If you’re trying to determine industry-standard rates for video production, your best bet is to define the average rate for each major task or service as this will help you come to an overall conclusion as to what the “industry standard” rate is.
Variables of Industry Rates
Keep in mind, that since video production costs are completely tailored to the individual needs of the client on a project-by-project basis, simple questions like “How much does a 2-minute video cost?” cannot possibly have blanket answers. So, many variables come into play.
Pre-Production Industry Rates
Several different elements come into play when determining the cost of pre-production services. For instance, the script-writing and storyboard concepts can cost between $60 an hour or upward of $150 per hour. These costs are vital to the success of your video as they represent the planning and detail that goes into the creation of your video so that it aligns with your audience. Failure to invest in pre-production is akin to producing a video without a purpose.
Pre-production costs include:
- Creative concept creation.
- ($60 to $150 per hour)
- ($60 to $150 per hour)
- Location scouting and permits. (varies by location)
Production Industry Rates
Factors that come into play when budgeting for production include the actual cost of equipment rental as well as the costs associated with hiring someone to operate the equipment. This is where your budget for a cinematographer, director, actors, location or studio fees, and various other costs.
Actors can cost anywhere from $50 per hour to $500 per hour or more. Professional actors are naturally going to cost significantly more than those who have little background in the field. Camera costs can also range significantly. If you’re purchasing a camera just for a shoot, the cost can be somewhere in the thousands or tens of thousands. Most cinematographers have their own camera equipment, which is why their day rates are generally around $400 or more per day.
Production costs include:
- Video equipment. ($100s per hour)
- Professional cinematography crew. (About $75 per person, per hour)
- Studio rental. ($100 to $400 per hour)
- Set design and props. (varies greatly depending on needs)
- Actors and talent. ($50 to $500 per hour)
- Voiceover or the narrator. ($100 to $400)
- Additional equipment, such as lighting and sound equipment.
Post Production Industry Rates
In post-production, your footage is edited and finalized for distribution. Depending on how your finished video is expected, the extent of the graphics and other post-production editing required will play a major role in costs that accrue at this stage. The editing process is long and daunting. But, it’s also where your video comes together into a masterpiece of fine art.
Post-production costs include:
- Logging of final audio files. (up to $1,000)
- ($60 to $175 per hour)
- B-Roll Footage. (add 10-50% to shooting cost)
- Graphics and animations. ($100 per hour or more)
- Final cut rendering. ($30 to $75 per hour)
As you can see, there are no industry standard rates for video production. Various rates come into play when determining the cost of video production and, while there are average rates, there are no industry standard rates specifically.
Ready to hire a video production company to help out with your production work? Give Beverly Boy Productions a call. We can’t wait to help you out!