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How Much Does Video Production Really Cost?

If you’ve been considering new ways to interact with your audience, you might be considering videos as a way to do so. You’re not alone–according to Cisco, by the end of this year, online videos will make up more than 82% of all consumer internet traffic.

But before you go ahead and hit record, it’s important to consider the cost of video production in terms of money and time. In this blog post, we’ll break down everything you need to know about the cost of video production so that you can make an informed decision about whether or not it’s the right investment for your business.

What Goes Into Video Production?

Producing a video is a complex process that involves many different stages, from planning and storyboarding to shooting and editing. What actually goes into it will depend on what type of video you want to create.

For example, an animated explainer video involves different production steps than a live-action corporate video. In general, though, the process usually looks something like this:

  • Pre-production: This is the planning stage, where you’ll develop your idea and develop a concept for your video. You’ll also create a storyboard and script during this phase.
  • Production: This is the phase where you’ll actually shoot or create your video. If you’re making a live-action video, this is when you’ll set up your equipment and film the footage. If you’re making an animated video, this is when you’ll create the illustrations and animation.
  • Post-production: This is the editing stage, where you’ll put all of your footage or animation together and add any additional effects or music.

As you can see, there are a lot of different steps that go into producing a video. And each one of those steps takes time–and money.

So, How Much Does Video Production Cost?

The cost of video production will vary wildly depending on the type of video you want to create, the length of the video, and the production value you’re looking for.

A typical corporate video can cost anywhere from $2000 to $5000, while a more complex video can cost upwards of $15,000.

Of course, there are always ways to save money–you could opt for a cheaper animation style or film the live-action footage yourself. But in general, you can expect to spend at least a few thousand dollars on most types of videos.

Here are some of the things that determine how much your video will cost:

1. In-House Production vs. Agency vs. Freelancer

Using an in-house team is very expensive, as you will have to pay for the team’s time, equipment, and other resources. As such, it is only necessary if you produce lots of specific video content on a regular basis.

Hiring an agency is a mid-priced option, as agencies typically have their own teams and equipment. However, you’ll still need to pay for the agency’s time and expertise.

Working with a freelancer is often the most affordable option, as you only need to pay for the freelancer’s time–not their equipment or other resources.

Of course, there are advantages and disadvantages to each option. In-house teams have more control over the process and can make changes more quickly. Agencies have more experience and can offer a higher level of production value. And freelancers are often more flexible and can work within a tight budget.

2. Type of Video Content

Drawn-out videos that involve lots of settings, equipment, and actors will be more expensive than a simple talking head video that demos your product.

For example, an animated explainer video can cost anywhere from $1000 to $5000, while a live-action corporate video can cost upwards of $15,000.

Similarly, a simple animated explainer video might only cost about $1500, while a more complex one with multiple characters, CGI, and custom illustrations could cost $5000 or more per minute.

3. The Length of Your Video

If you need a long video, it will obviously cost more than a short one. The length of your video will also affect the other costs, such as the number of locations you need to film in and the number of actors you need to hire.

For example, a 30-second commercial will be much cheaper than a two-minute corporate video. And a three-minute explainer video will be more expensive than a one-minute version.

Of course, there are ways to save money by making your videos shorter. But in general, you can expect the price to go up with the length of the video.

4. How You Plan to Use the Video

If you plan to distribute your content on your own, you might not need to spend anything on putting your content out there. Simply uploading it to your website or social media platforms will suffice.

But if you plan to air your content on TV or use it in a major marketing campaign, you’ll need to factor in the distribution and advertising cost. This can include everything from buying airtime to hiring a PR firm.

And if you’re using it for social media advertising or performance marketing purposes, you need to factor in the cost of the ad campaign itself.

Final Thoughts on Video Production Costs

As you can see, many factors determine how much your video will cost. If you’re on a tight budget, you might want to consider a shorter video or a more affordable option like animation.

But if you’re looking for a high-quality, professional video, you can expect to spend at least a few thousand dollars. And if you want a longer video with lots of production value, you could be looking at a bill for $15,000 or more.

When it comes to video production, the sky’s the limit–but so is your budget. So before you start filming, be sure to figure out how much you’re willing to spend and what kind of video will fit into that budget. Otherwise, you could end up spending way more than you intended.

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