When a video production company quotes for a job there are many factors they need to consider. It’s not as simple as coming up with an idea then filming it. There are many steps to get a project from an initial briefing stage to a final video. To understand your potential video costs you need to understand what you want.
So one of the first questions you need to ask is – how complicated is my project?
Video production company vs videography
It’s a common mistake to assume all people who work in video can produce the same style product. However, you’ll find there’s a large difference between a solo or two team videographers, and a video production company.
A videographer is someone who is likely to “turn up and shoot”, be this a wedding, meeting, or social event. You will have to plan everything yourself, then a videographer will simply turn up and video it. This is a less structured, more relaxed manner.
Whereas a video production company takes on every step on the process. This is from generating an idea, to hiring locations, to managing cast and crew, to producing multiple edits in different aspect ratios for your use.
So why choose one over the other? If you’re just looking for a single video of a day event for personal or internal use, a videographer might be for you. However, if you want a video that will stand out on an online market with a clear creative narrative, a video production company will better suit your needs. With billions of videos online, an increased production value is a strong tool to help yours stand out. This partnered with a creative concept from a team of professionals is likely to make you stand out.
It is important to remember that all of the content you produce is a reflection of your brand image. There have been studies that show that low quality content damages a brands image – https://www.slideshare.net/brightcovecp/highcostoffree-infographicrev. Not only this, an investment in a full video production may seem like a larger fee, but in reality the content lasts longer, positions itself stronger in the viewers mind, and is a better brand reflection – which is therefore more likely to generate a superior return on investment.
Video costs
There is no one size fits all for video production projects. There are many variables that contribute to video costs, but here are some of the considerations:
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Cast and buyouts
This is the fee for your cast on the shoot day(s) and then the buyout to use their image – the longer you want to use their image, and the more platforms you want to use it on, the more expensive the buyout will be. For example, 2 years paid social media use will be significantly cheaper that social, tv and billboard for 5 years.
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Voiceover
Does your video require a voiceover? Well to get it right you’ll want to hire a professional! This fee is usually based off how long the script is and sometimes usage.
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Production time & creative input
This is where a lot of time can be spent for a video production company. Tasks in this include: scripts, narrative, storyboarding, character designs, styling, wardrobe, prop sourcing, paperwork, scheduling, project management, location recce, etc. The list goes on and is assessed on a project by project basis.
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Tech recce
Core crew members will visit the location of the shoot to determine factors that will affect filming. For example, additional lighting, time of day it needs to be filmed, props that are needed to set dress, etc.
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Shoot days
Each of your shoot days will have associated costs. Examples include location hire, sustenance, etc. this is then multiplied by shoot days. In some cases deals can be made for bulk bookings with suppliers.
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Crew
Whether that’s a director, make up artist, drone operator, producer, director of photography, assistant camera or many other roles, their presence may be necessary and becomes an accumulative cost. Each crew member has a day rate. The more complex or longer the project, the more crew and days are needed.
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Travel
If your shoot is a distance from where the company is based, travel fees are likely to be incurred.
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Equipment
An equipment fee is a standard practice to cover the equipment a company owns. It can also allow room for additional equipment to be rented to facilitate the shoot.
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Post production
The more complex the edit, and the higher the volume of output, the longer the postproduction time takes and will need to be billed for. Additional fees might be occurred through animations.
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Animation costs
Want your logo to come to life on the screen? Chances are you’ll need an animator also to make this happen (usually managed by the video production company).
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Other expenses
There may be other expenses to your shoot, such as wardrobe, props, etc. that all need to be considered in a budget.
How to move forward
Got an idea of what you need? Contact a video production company to find out more. Even better, contact us and we’ll give you a no obligation free quote and all round general chat about your project!
Understanding the costs helps you better understand all the variables in order to make your project work. But the right video production company will be more than happy to advise you on how to make the most of your content and maximise your budget.
Want to read more about the benefits of video production? Click here to read 5 positive impacts of investing in video production.
May Sweeney
Marketing Executive
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