A question that most people ask when considering making videos for their business or organisation is “how much will a video production cost?”
Before we get into how much it will cost, we want to explore that while it’s a reasonable line of thinking (about cost), it isn’t exactly right. The key is thinking about the goals of the videos. Perhaps it is an all encompassing video to inspire the next generation of students to attend your university. Or maybe it is an internal communications video that needs to instill pride in your global workforce of 20,000 employees. Or at the other end of the spectrum, you could be from a small to medium-sized enterprise and you’re looking for a video to inspire potential customers to do business with you.
The difference with all of those very loose briefs and goals is the magnitude of what you are trying to achieve and the potential benefits of them. Bringing in an extra 1000 students to your university that you would not have had otherwise may well justify a spend of £25,000 + as the rewards are far greater. It’s high up the hierarchy. Whereas an explainer video on how you can get to the campus, may be able to be achieved with much lower budget production as it has less riding on it. Can you see where we are going with this?
The budget you spend with a video production agency should produce fewer, but more effective, high-quality videos. Quickfire and simpler videos can be produced in-house by your marketing team with some effective video training.
97% of marketers say video has helped users gain a better understanding of their products and services. (Hubspot)
Videos attach 300% more traffic and help to nurture leads. (MarketingSherpa)
A website is 53 times more likely to reach the front page of Google if it includes video. (Insivia)
There are so many variables involved when making a video. A high end corporate video could cost £25,000 +. A TV advert by a leading brand may well spend north of 1 million pounds. Most regular corporate videos start from £2000 +.
The bottom line is, it depends on the video that you need, pre-production, length of the video, the locations, crew, equipment, actors, voiceover artists, video editing and more.
As a result of all the variables, this is perhaps why few video production companies list their pricing. Either that or they enjoy keeping their cards close to their chest and rip people off where they can – you decide! The best place to start is by filling out a video production brief. More questions will most likely arise from this, but it will give the conversation a much more solid start.
Video production cost will vary, but these are the standard day rate charges for the most common crew members.
Potential video production cost:
Full-Service Video Production day of filming: £600 – £3000 + VAT (depending on requirements)
Drone Operator: £500 – £1,000 + VAT
Commercial Video Editor: £400-£1,000 + VAT
Motion Graphics Editor: £400-£1,000 + VAT
Actors: £250-£1,000 + VAT
Most frequently, we charge for mileage at £0.45 per mile. Sometimes there will be costs for hotels or even flights (though it is rare).
We’ve made entire video production projects from £1,000 all the way north of £50,000.
Here are three examples of videos with varying price ranges.
So remember, think about your goal and your audience before thinking about how much a video production costs. Maybe an even better question to ask is how much this video could either generate or save.
Hopefully, this article will give you some guidance on video production cost, even though we cannot answer the question with a definite answer! Why not get in touch to find out more about your video production requirements today?