Understanding The Cost of Video Production

June 15, 2021
Published by
Keyy Productions Team

HOW MUCH DOES VIDEO PRODUCTION COST?

So, we all know that video marketing is incredibly valuable - but what are the actual dollar signs behind it? If you haven't worked with video before, it can seem like a mountain of a task to figure out what you should be charged for your project.

So, let’s break it down.

THE THREE ELEMENTS OF VIDEO PRODUCTION THAT CONTRIBUTE TO THE COST

Firstly, there are three main elements to the creation of any great video content, and each of these steps in the process will contribute to the cost. Let's break them down and talk about what you're paying for each step of the way.

1. PRE-PRODUCTION

Although the importance of pre-production is often overlooked, it is CRUCIAL, for every project.

Pre-production includes all of the concept development, planning, scheduling and organisation that happens before you turn up to your shoot day. It’s the backbone that keeps your video from being cookie-cutter, boring, irrelevant to your brand or... just plain bad.

Now, production companies will have different ways that they go about pre-production. Some will have a whole team working collaboratively on your project, and others will provide you with a dedicated producer who will be responsible for overseeing all of the details that go into your shoot.

So really what you are paying for is that person's time - and that time is super valuable. A general rule of thumb is the more complex your project is and the more coordination that is needed to pull the concept together, then the more pre-production time you'll be paying for!

2. PRODUCTION

For most people, the filming day is the most exciting part of the video process because it's when you get to see your content come to life!

Whether your production day includes a huge set with actors and extras; a tiny, intimate interview shoot or a few videographers running around and filming an event, what you are really paying for during production is expertise - and that doesn't (and shouldn’t) come cheap.

Production is often the most expensive part of the process, less so because capturing great content is so time intensive and more so because you are paying to take advantage of the skill of the people who are there, whether that's the videographer, the sound technician or the producer.

Production days can also have satellite costs, such as needing to pay for filming permits or locations, so it's a good idea to check in on these with your production company in advance.

3. POST-PRODUCTION

The last element of great video content is post-production - and this is where the magic happens!

If you haven't worked with video before, it can be easy to assume that post-production is the simplest and fastest part of the process, but actually, it takes bucket loads of specialised skill and creativity, and often a large output of time.

All this time can be costly, but a good production company will have assigned a specific amount of post-production resources to your project and will do their absolute best to meet this estimate.

Make sure you're across the time allocations and any additional charges with your production company.

- - -

So, when it comes to understanding the cost of video, it’s best to ask as many questions as possible and don’t underestimate the value of expertise and quality when choosing the right video production company to partner with! After all, "price only matters in the absence of value". A valuable relationship with your video production company is the best investment around.


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