Professional video production for your brand does not have
to break the bank. However, there are numerous costs associated with corporate
videography rates and video production costs, which we will discuss in this
post.
Video Production Cost Breakdown 2022
1. Expenses for project management and coordination
The project manager's or project coordinator's role is more
than just administrative. The project manager or coordinator ensures that your
video production budget is not exceeded. They also oversee the production
timeline, ensuring that everyone involved in a project meets their deadlines.
Video production is no different.
In video production, the producer is the project manager or
coordinator.
Typical Prices: Expect to pay $25 per hour for a recent film
school graduate and $250 per hour for a seasoned video production professional.
The executive producer of the project typically earns a flat rate in Phoenix
and similar metro areas.
2. Costs of Script Development
If you need a script for your video project, you'll need to
hire a professional script writer. Scriptwriting prices vary depending on
whether you require a fully written script or an outline for your on-camera
speakers to follow. Of course, the price is determined by the length of your
video. We can help you with script writing.
Typical Prices: An experienced scriptwriter will charge
between $50 and $150 per hour to create a video concept, storyboard, and script
for your video.
3. The Cost of Hiring On-Screen Talent (Actors, Models)
If you prefer not to be on camera and want to hire actors,
models, or voice-over talent, the cost will depend on their level of experience
and expertise, as well as the amount of time you'll require. We can help you
with this.
Typical Prices: Actors, models, and voice professionals in
the greater Phoenix area typically charge $55 to $500 per hour, depending on
demand, experience, and union costs.
4. The Costs of Other Types of Visual Assets
Shots that supplement what is said on screen help most
videos. These are known as B-roll or cut-away shots in the video production
industry. For example, if you're describing a product or service in your video,
you could include cut-away shots of the item or service in use. Showing the
audience what is being described in the video helps to keep the viewer's
attention and is also more informative.
Still images, Stock photos (royalty free), Licensed photos,
Custom photography, Video, Stock video (royalty free), Licensed video, Custom
video, Illustrations/3D Elements, Stock illustrations, Custom illustrations,
and Purchase 3D models will all be included in your video production budget.
Stock photos, videos, and illustrations are more widely
available and less expensive than custom versions. The disadvantage of using
stock photos is that you do not have exclusive rights to them. They can also be
used by others.
Stock images can be as cheap as $5 each, and 4K and HD stock
footage can be as cheap as $10 each. High-quality stock images will cost you
significantly more. We can help you purchase stock images or recommend a
reputable source with a large library of stock art. Cut-away and B-roll shots
typically account for 15% to 50% of the total filming/shooting budget. This
will be determined by the amount of time required to capture the additional
footage and the type of camera used.
5. The Price of Adding Special Effects to Videos
If your video project includes special effects such as
animations, motion graphics, or title overlays (also known as lower thirds,
captions, and Chyrons), the cost of video production will increase. We strongly
advise brand videos that are intended to sell something, promote a product or
service, or build a pipeline of leads to include some sort of call to action,
which is where graphic special effects come into play.
Costs: Some videos require simple graphics, while others are
completely animated. Basic editing costs between $65 and $225 per hour.
However, special effects can easily range from $95 to more than $300 per hour.
The cost of high-quality 3D animation is determined by the animator's
experience and the project's complexity.
6. The Costs of Video Production Location
Where are you filming? Are you filming inside or outside? Do
you require a sound stage or a recording studio? Are you filming in multiple
locations? Do you intend to use a green screen? Is it necessary for you to
travel between locations?
- Studio rental
- Fees and permits
- Local or travel
- Building rental
Typical Costs: The total amount of time required for
production is the most important factor in determining location expenses in
your video production rates. With proper planning, you can accomplish a lot in
a short period of time (which is another reason why scripting and storyboarding
are so important). If a studio is required, prices in the Phoenix area range
from $95 to $400 per hour, depending on the size of the studio.
7. Fees for Music Licensing
Will your video include any special sound effects or
additional audio? Some websites provide license-free music, but always read the
fine print (our video product cost includes this service). You have three
options when it comes to adding music to your videos:
- Stock music (royalty free)
- Licensed music
- Custom score
Royalty-free music for video can cost as little as $11 for a
2- to 3-minute track. Hiring an audio engineer to create a song for your video
could cost $500 to $1,000 or more, depending on the musician's ability and
experience, as well as the needs of the project.
8. Costs of Video Production Crew
What is the cost of hiring a camera crew? What about hiring
an entire video production team?
The number of people involved in the creation of your video
will be determined by the complexity of your project, the length of time
available, and, of course, your budget. A camera operator, makeup or hair
stylist, or lighting professional, for example, are not required for an
animated video.
What you really need is a Director, Director of photography
(DP), Camera operator, Lighting, Sound, Grip, Makeup/hair, Editor and Motion
graphics artist/animator.
In Phoenix, key personnel such as the director, director of
photography (DP), and editor typically earn $75 to $150 per hour. Sound
engineers with their own equipment typically earn between $45 and $75 per hour,
while lighting engineers typically earn between $25 and $50 per hour.
9. Time for Video Rendering and Compression
Video rendering and compression are steps in the video
production process that are "hidden" because they take place behind
the scenes. In fact, the costs for video rendering and compression are
frequently rolled into the editing time and budget.
Transferring footage into an editing system, post-edit
rendering it into a presentable format (usually for web or broadcast), and
uploading it to wherever it will be hosted are all part of video rendering and
compression (Vimeo, YouTube, or some other channel). On the computer, this all
takes time.
Costs: Video rendering and compression costs can be combined
with other services such as editing, or they can be budgeted as an hourly
charge. Prices range between $25 and $75 per hour, depending on the processing
speed of the computer.
10. Video Production Equipment
Overhead Costs like (cameras, lights, sound, studio,
computers, software)
Insurance like (liability and workers compensation)
Typical Prices: Are you shooting with a $200 phone or a
$25,000 RED camera? The bottom line with camera prices is that the more
expensive the camera package, the more noticeable the difference in the final
product. Depending on the camera package you choose, you could spend $100 to
$2,000 per day or more. Teleprompters, jibs, steadicams, and other similar
equipment can cost anywhere from $30 to $1,000 per day.
How Much Does It Really Cost to Make a Video in 2022?
Here are some figures to get you started with as a general
budgeting guideline. A professional 2- to 3-minute corporate video typically
costs between $2,000 and $7,000. Most production companies agree that the
average cost of video production is typically between $1,000 and $5,000 per
completed minute, and we agree that this is a good starting point to consider
when budgeting.
Be open and honest about your budget when working with a
production company. Our most successful video production projects begin when
our clients say, "Here's my budget, here are my goals, what can you do for
me?"
If you do not start with a budget, the production company
will have to make one up. Working with a video production company that gives
you a single price for a video or series of videos without breaking down what
goes into that price point should be avoided.
So, to return to the original question, "How much do
video production companies charge?" The simple answer is that there is no
such thing as a simple answer. You could use your iPhone to record a video and
upload it to YouTube for free. You could hire a major Hollywood producer to
create the same video for millions of dollars. There are so many factors that
influence the cost of video production that it is impossible to respond simply
and succinctly. Call us and tell us about your project so we can get to the
bottom of video production pricing.
Video Production Price List 2022
Here is a list of all the costs discussed in this post:
- Project management and coordination: $25 - $250 an hour
- Script development: $50 - $150 an hour
- On-screen or voice-over talent: $55 - $500 an hour
- Supplemental visuals: 15% - 50% of total video production
budget
- Special effects: $65 - $300 an hour
- Location costs: $95 - $400 an hour
- Music: $500 - $1,000+
- Video production crew: $25 - $150 per person per hour
- Video rendering: $25 - $75 an hour
- Overhead costs: $20 - $3,000 per day
