Show Me the Money: Breaking Down Video Production Cost
Key Takeaways
• Determining the cost of video production requires understanding factors such as length, complexity of storyboarding, editing, and equipment/software needs. It could be 5k or it could be 50k.
• Pre-production expenses may include scripting, storyboarding, talent & crew fees, location scouting, permission & licenses along with promotional materials.
• Post-production work covers audio mixing, visual improvements, and color grading which can be expensive if a high-quality editing team is hired for the project.
• Location expenses may depend on additional permits or safety fees while talent & voiceover costs may include actor, extra, or employee hire.
• Investing in professional video production services ensures quality content and ROI in the long run; marketers should plan ahead and collaborate with experienced teams that understand budgets.
With so many Minneapolis production companies, we have put together a cost breakdown for business owners and marketing agencies to keep in mind when hiring a video production company.
What is it going to take to hire a good production company?
One of the biggest questions before investing in video production is, how much does it cost? As a video production agency, we’re here to show you that video production isn’t just about throwing money at the problem and hoping for a Hollywood-level result. Understanding the breakdown of costs for video production will help you plan, budget, and invest in creating effective and engaging video content for your brand.
Video production is a lot to think about
Determining how much a video production will cost can be a bit tricky. There are a lot of factors that come into play, like how long the video will be, how complicated the storyboarding is, how much editing is needed, and what kind of equipment and software will be required. The pre-production side will vary depending on the scale and complexity of the project. It may include costs associated with scripting and storyboarding, securing talent and crew, scouting locations, acquiring the necessary equipment, securing permissions and licenses, creating a budget, and other administrative tasks. Pre-production expenses may also include any marketing or promotional materials needed to promote the video.
For example, the cost of making a video interview with the CEO will be different from the cost of making a commercial video production for a luxury car brand in downtown Rochester, MN.
Hey, making a video can be expensive!
It's not just about filming, there's also post-production work like audio mixing, visual improvements, and color grading. And if you want it to look really professional, you might have to shell out a few thousand dollars or more for a top-notch editing team. Plus, using unique stock footage and music that isn't copyrighted can be pricey. I mean, who wants to use the same old stuff everyone else is using, right? Anyway, the amount of editing you need will depend on the type of video you're making. If it's just a customer testimonial, it won't be as complicated as a commercial for a food brand that wants a video in 1000fps to use as a social ad online.
It never ends
When it comes to video production, the cost can really vary depending on where you want to film. A studio that already has all the lighting, sound, and gear you need can be a great way to save money. But if you're looking for a unique or beautiful location in Minneapolis or Saint Paul, you may need to get some permits or pay extra fees for safety measures. Keep in mind that you'll also need to factor in travel expenses, accommodations, and per diem costs for your production team.
Do they get paid too?
Did you know that the cost of a location for your video shoot can depend on more than just its physical features? Yup, hiring actors, voiceover talent, and extras can really add up and break your budget. But don't worry, there are some affordable options available. Instead of hiring expensive professional actors, you could consider featuring your own employees, real clients, or even some local theatre group talent. Not only will this save you money, but it can also help these individuals build up their portfolios. Pretty cool, huh?
Marketers see a positive ROI on video
When it comes to creating videos, the amount of money you invest can determine the final outcome. While it's possible to produce a decent video on a small budget, it's important to remember that the quality and level of professionalism may not be as high. Investing in professional video production may seem costly initially, but it can provide significant long-term benefits in terms of engaging and high-quality content that can result in a high return on investment for your business. To ensure success, it's crucial to plan ahead, collaborate with experienced teams who understand your budget, and acknowledge the investment required to create top-tier content. Did you know that most marketers see a high ROI when investing in video?
Conclusion:
Video production costs can vary, but there is no need to be intimidated by the prices. By breaking down the cost factors, you have a better understanding of how to invest in this type of marketing effectively. Just like any other business investment, making sure you have a quality product can make all the difference in its effectiveness. When it comes down to it, the cost of video production is ultimately up to you. To make the most out of your video content, it’s best to work with trusted professionals and understand that this is truly an investment with the potential for substantial ROI in the long run.
One thing to keep in mind is that we also offer a camera crew and rental equipment if you are an out-of-town marketing agency looking for a Minneapolis video production company we can help with that.
