How Much Should You Expect to Pay for High-Quality Videos?

Video Production Pricing and Day Rates

Day rates depend on the gear, experience, and complexity of the video project. These day rates were updated for 2023.

Video Post-Production Day Rates

Day rates usually include some pre-production planning and the cost of gear or gear rentals.

Factors that drive cost

The factors that drive video production cost vary from job to job. But the following factors are often included: desired video quality, creative services such as scriptwriting, pre-production, the number of shoot days, crew size, number of locations, and post-production services. Use this guide to begin thinking about your video project. It will prepare you for a meaningful discussion with the video production company. So that they can give you a more accurate price point.

 

 

Why is video quality so important in video production cost?

We have arrived at an interesting moment in time for video production. The cost of video gear has decreased significantly over the past decade. While the number of videographers and video production companies has increased. Consequently, this has led to a staggering amount of video available on the internet. There are billions of hours of video that have been uploaded. Perhaps you are asking yourself, is it worth creating more videos?

The answer is an emphatic yes. Videos communicate concepts, ideas, and stories more powerfully and impressively than any other medium. However, for videos to be impactful and memorable, the quality must be high and the content valuable.

A corporate video production quote requires a quality model

Purchasing decisions are increasingly driven by watching videos. Because consumers prefer learning about their favorite brands and products through video.

Studies by Aberdeen and Brightcove illustrate that consumers’ preference for top-quality video is high. Additionally, high-quality videos improve landing page performance by up to 80% according to studies done by Insivia. Google rankings for pages that include video also improve. High-quality videos age well and create long-term value for your company. You are likely to see a measurable return on investment in your video production within weeks or a few months. (Want to know more about ROI? Read about the detailed example here.)

Poor quality video hurts your brand image

On the other hand, studies also illustrate that poor-quality videos leave negative impressions with 60% of consumers. Consumers become reluctant to engage with the brand again after watching low-quality videos. A poor quality video will hurt your brand image.

Invest your money wisely and focus on professionals. Don’t overspend on video productions but don’t skimp out either. Good video is an investment that has a long shelf life and converts significantly better. Quality videos are the most powerful communication medium that your company can invest in.

Creating your video production cost budget

The budget you have drives the type of video you can expect. A modest budget of $1500 or less will probably not get you what you are looking for.

However, a $6000 to $10,000 video should last you at least 3 years. (That’s a cost of $2000 – $3300 per year.) The increased conversion rate of a quality video often pays for the video after only a few weeks or months.

Creative services and runtime

Here at eTown Videos, we produce videos from about $2500, (small business video spots) to about $15,000 or more (corporate brand videos).

Video Style and Quality: Before you begin comparing video production companies, determine the style and quality of video you want. A video with motion graphics and animation is very different from a live-action shoot with people. Because the skills and resources required in these examples are very different and will affect the cost greatly. Researching existing videos on YouTube or Vimeo will help inspire you and help narrow in on a particular style for your video.

Video Objective: Define the result you want from a completed video production. What do you want the video to help you achieve? Be specific. Where do you expect to publish the video? Establishing the what, why, and where for your video is an important first step.

Concept and Creative Development: This is an extremely important part of your video. However, some videos don’t need any concept or creative development. For example, filming an event such as a workshop or seminar requires little concept development.

Other videos involve a lot of early consulting to help you develop a style and concept. Examples are corporate brand videos, training videos, and product videos.

Runtime: The total duration of a completed video impacts the total cost of the production. The resources required to produce a 2-minute versus 4-minute video can be somewhat similar. Longer videos take more time in every aspect from concept development to edits and final changes.

 

 

How pre-production impacts video production cost

Pre-Production: Understanding how pre-production impacts video production cost is important. Pre-production time can vary significantly depending on the style of video you need. Script development, pre-interviews, industry research, obtaining permits, and location scouting all take a lot of time. The importance of pre-production planning and preparation cannot be overstated. Expect to allocate a large portion of the budget (time and money) toward the pre-production process. The larger and more complex the video project the more pre-production is required. The better the preproduction, the better the completed project.

Here at eTown Videos, we spend a lot of time researching the subject matter, understanding the goals of our clients, conducting pre-interviews, etc. Whether via Skype, conference call, or in-person – pre-interview discussions are absolutely essential to our process. We have an in-depth process that we encourage clients to participate in fully. In fact, we believe that 100% of the success of the video will depend on thorough pre-production and planning.

Scripting: Some videos will require a script. Many of our clients develop scripts in-house. On the other hand, many production companies also offer script development as part of their service package.

Scouting locations: Scouting for filming locations takes time and incurs travel expenses. This is one of the cost drivers where working with a local production team is helpful. They usually know where filming is allowed and most suitable.

 

How crew size and number of shooting days affect video production pricing

Cost of a shoot day: Most projects we work on require us to capture original video footage. The average minimum cost of a 3-minute video that requires original footage will cost at least $3000.

Each project requires a unique number of shoot days. A full shoot day is considered 8 hours, and a half-day is considered 4 hours. (A half-day is the minimum we charge to send a videographer on a video shoot.) However, it costs 75% of what a full day costs for a single team member (Additional staff equals additional cost). This is because the following full-day/half-day aspects are the same – pre-production planning, video gear, lighting, and sound equipment needed for the job. In addition, add at least 2-3 hours for set preparation, gear set up and takedown.

 

 

How many crew members are required for a video production?

Crew size: A single videographer can get a lot done on one shoot day, but sometimes projects require two or three videographers for simultaneous filming from different angles. We might also send a production assistant to help the videographer with setup and working the camera gear, and conducting interviews.

Productions need a producer. The video producer organizes and oversees the entire shoot, and typically is the main contact with the client. The entire day is planned by the producer who manages the video production process, overseeing the staff and general procedure. The video producer will also take care of the paperwork, client communications, and the financial aspects of the project.

In many video production companies, the producer is also the director, the person who holds the vision for the project. Such is the case at eTown Videos. The producer/director directs each shot and the entire feel and flow of the video.

Additionally, some large corporate shoots require a hair/makeup artist, a sound technician, or a lighting specialist. Sometimes shoots require actors or a spokesperson. This adds casting costs and daily rates for actors. At eTown Videos we rarely hire actors but it’s good to be aware of these potential costs. In our experience, most shoots require only 2 to 4 people.

Cost of travel for video production crews

Travel costs for transportation, hotel accommodations, and meals: Sometimes the complexity of the video production requires the producer/director and the crew to travel to the shoot location. For some jobs, it is adequate to hire a local videographer to capture the footage. If you hire a video production company that is not local, they may subcontract part of the shoot to local freelancers to keep the cost lower. The producer or DP will almost always travel to the actual shoot location to oversee the shoot.

 

The cost of post-production

The factors that drive pre-production costs depend on the complexity of the video project. If the video project is simple and short then editing is easier. If there are several media elements, graphics, or multiple camera elements, several interviews, the project can become more complex. Postproduction varies greatly from project to project. Simple projects (up to 2 minutes run time) may require 1-2 days of postproduction. Large and complex projects (5 minutes or longer) may require 3-10 days of postproduction work. Nearly every aspect of each project is different.

The number of postproduction days doesn’t follow a back-to-back sequence. Typically, client reviews and approvals may take anywhere from a few days to 2-3 weeks. After the client had a chance to review and approve a draft that is when the editor moves on to the next step.

The video production pricing examples are based on our experience. Our video costs are not the lowest and definitely not the highest. Here at eTown Videos, we make the most of your budget. Because our priority is always to help you achieve the results that you expect from the video.

If you have a project in mind and would like to get the ball rolling, please feel free to get in touch with us. We’ll respond with advice and more specific video production pricing.