Making any video is hard work. Just ask someone who is involved in the industry. Many processes are involved, from assembling a crew, gathering the right equipment and selecting a proper location to retakes.
All of this requires a certain amount of money. But how much exactly? While some production companies charge based on a particular project, others charge by the minute. However, the cost of video production is usually decided by a few factors. What are some of them? Read on to find out.
Location
Shooting location plays a vital role in determining the cost of video production. Usually, doing the shoot at an office, site, or another area is cheaper than renting a film studio. Scheduling a video shoot in a public place like hotels, restaurants, parks, and reserves would require a permit in most cases. The overall cost is also impacted by the number of locations covered in the video. Videography done in one place is cheaper than those that require travelling, which adds to the set-up time and travel expenses.
Duration
The cost of video production and duration are invariably related to each other. Will the shooting be done throughout the afternoon or evening? Or will it require a couple of days? However, it is also true that a video with a short duration but involving several characters and requiring more editing will cost more than one that extends to an hour but is straightforward. A single-camera project will be easier and quicker to edit than a triple-camera project. B-roll footage will increase the costs by quite a bit. For this very reason, a short commercial video may cost more than a lengthy documentary. Other things that play a part are colour grading, the number of videos, delivery formats and the final length.
Equipment
The kind of equipment used to shoot a video will also play a part in its overall cost. Primarily, video production companies have cameramen who use their high-quality equipment. Various tools, including jib-arm, gimbal, track dolly, direction mics, type of cameras used, and drones, will dramatically increase the shoot price. The conveyance used to bring in the equipment also plays a role in the cost. For example, hiring a helicopter for an aerial shot is way costlier than renting a van to transport the necessary equipment.
Presenters or actors
The people involved in presenting the video will also determine the overall cost of the video production. Actors and professional presenters or anchors will charge an extremely high rate. Many videography companies feature their employees to save money and lend authenticity to the video itself. Some projects like testimonials, case studies and customer reviews will always feature clients, bringing the authentic factor into play. The fees charged by the agents and the casting process will also increase the costs.
Make-up artists
Hiring make-up artists will increase the cost of video production. They are often hired more for creative and music videos than corporate ones. Nevertheless, the price of a make-up artist will depend on the experience, style and accessories involved. Special effects make-up artists will charge a lot more than other artists since they are acquainted with advanced make-up techniques.
Any extras?
Some videos may require the use of extras to add that touch of liveliness and energy. Some companies hire their employees instead of paying for extras, but the results may not be the same. Extras are professionals who know what is expected of them. There are different types of extras, including general background extra performer, featured extra background performer, stand-in, pay bumps and body double. The more the number of people employed as extras, the more will be the costs.
Interactivity
Extra costs will have to be incurred to enhance the interactivity and programming of a video. That means that to enjoy a video with the maximum effects, a viewer might require a customer player or special programming. In interactive videos, users can interact and get personally involved with different tools, including drag, scroll, gesture, and hover. Some functionalities used in such videos are quizzes, branches, 360-degree views and data inputs. Doing all of this will cost more than a traditional linear video.
Distribution and uploading
After completing the video shoot, things like distribution and uploading are a part of the video costs. The type of distribution channel will influence the overall investment to be made. There are social media and paid media platforms with options of a single landing page to programmatic advertising. There is also the incurred cost of video hosting platforms, some of which are free but others paid. Uploading, transferring files if necessary and digitizing them all have their specific charges.
The final cost of video production rests on the factors mentioned above, each playing an independent role. However, a good video has lasting value and yields significant returns, and the cost incurred while making a video can be thought of as a wise investment rather than an expense.
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