How Much Does Video Production Cost?

Even though there are various costs associated with the video production process, producing professional video content does not need to break the bank. If you want an exact cost for your next project, you’ll have to contact a video production company.

Fortunately, Mosaic Media Films – Austin Video Production Company is here to help you through the process and ensure that you get high-quality video content that doesn’t cost an arm and a leg.

If you want to understand the various factors of how much does video production costs, keep reading!

How Much Does Filming a Video Cost?

You need to consider various components when determining the cost of your video project. Here is a video production cost breakdown:

Project Management and Coordination Costs

A project manager or coordinator does more than just handle paperwork and complete admin tasks. The project manager makes sure that production expenses don’t go above your allocated budget for video production.

Additionally, they evaluate the production schedule, making sure that everyone participating in the project meets their deadlines. This includes video production. 

Project managers or coordinators are also referred to as producers in video production.

On average, experienced and professional managers charge approximately $250 per hour, and beginners or recently qualified professionals charge $25 per hour.

Costs to Hire On-screen Talent – Models, Actors, Etc.

When hiring actors, models, and other on-screen talent, the costs will vary based on their level of expertise and experience. Time also plays a crucial role in determining the cost.

Keeping these factors in mind, costs to hire on-screen talent range anywhere from $55 per hour to $500 per hour.

Script Development Costs

You must hire a qualified scriptwriter if your video project calls for one. Scriptwriting costs vary depending on whether you need a framework for your actors to follow or a fully written script.

The price also depends on how long your video is. A video production company can find talented scriptwriters for your content.

Experienced script writers charge anywhere between $50 per hour to $150 per hour for a storyboard, script, and video concept for your video project.

Special Effects Costs

Your video project’s special effects budget will increase if it incorporates motion graphics, animation, or title overlays (also known as captions, lower thirds, and Chyrons).

We strongly advise including a call to action in brand videos that are meant to sell your products, generate leads, or promote a good or service. This is where graphic special effects come into play.

The cost of special effects will vary depending on whether you need complete animation or simple graphics. Special effects could cost anywhere from $95 per hour to over $300 per hour.

When it comes to basic editing, you can expect to pay anywhere from $65 per hour to $225 per hour. As mentioned before, these video production rates depend on the animator or graphic designer’s experience as well as the complexity of the video project.

Expenses Relating to Other Visual Assets

If you want to take your video to the next level, you could benefit from shots that support the screen’s message. These are what the video production techniques sector refers to as “cut-away shots” or “B-roll” – for example, cutaway clips of the product in use could be used if you are describing it in your video.

By showing your audience what you’re describing, you’re able to keep their interest. It is more educational.

These types of visuals are included in your production cost estimate. It includes:

• Stock images
• Stock footage
• Still images
• Video
• Custom photography
• Custom video
• Licensed photos
• Licensed video
• 3D elements/ illustrations
• Stock illustrations
• Custom illustrations

Compared to its personalized counterparts, stock images, graphics, and videos are less expensive and more easily accessible. The drawback of using stock photos is that you do not have sole ownership of them. This means anyone else can use the same content in their videos.

You can get stock images for as low as $5 and stock videos for approximately $10. However, if you’re looking for a more high-quality solution, you can expect to pay more.

Typically, between 15% and 50% of the total shooting or filming budget goes towards B-roll and cutaways. This will depend on how long it takes to record the additional clips and the type of video production equipment used.

Music Licensing Fees

Do you want your video to include any additional audio or unique sound effects? Some websites offer music without a license; however, make sure you always read the fine print. You have three choices for including music in your videos:

1. Licensed music
2. Stock music
3. Custom score

If you need a 2-3-minute long song, you can expect to pay as little as $11. However, if you want a custom song, hiring a sound engineer could cost between $500 and $1,000. Once again, this depends on the availability and experience of the sound technician.

Location Costs

Location is crucial when producing high-quality videos. Does your video need to be shot indoors or outdoors? Do you need to film in more than one location? How far do you need to travel between locations? Do you need a studio or sound stage? A few things you need to take into consideration are:

• Permits and fees
• Studio rental
• Building rental
• Travel or local

The length of time needed for producing a video is the most crucial consideration when determining location costs. You can do a lot in a little amount of time with careful planning (this is another reason why storyboarding and scripting are essential). If you need to rent a studio, rates range anywhere from $95 to $400 per hour, based on the studio’s size.

Video Production Crew Costs

Are you planning on hiring a full video production crew? How much does a camera crew cost?

The number of crew members involved in your video production depends on your budget, the length and time of the project, and the video’s complexity.

If you’re filming a corporate video, you might need a hair and makeup stylist, a lighting professional, and a camera operator. However, if you’re producing an animated video, you wouldn’t need any of this.

People who form part of the production crew include:

• Director
• Camera operator
• Director of photography (DP)
• Editor
• Sound technician
• Lighting technician
• Hair and makeup stylist
• Animator or motion graphics artist

Key crew members, including the director, DP, and editor often charge $75 to $150 per hour. Professionals in the sound industry who own their own personal equipment typically make between $45 and $75 per hour, whereas those in the lighting industry typically make between $25 and $50 per hour.

Overhead Costs

This involves the things you have to consider pre-production, such as insurance and equipment. Before you start filming you have to ensure you take out workers’ compensation and liability insurance.

You also have to worry about arranging equipment such as lights, cameras, a studio, sounds, software, and computers.

When it comes to overhead costs, you make the final decision as to whether you want to record on your hundred-dollar smartphone or a $25,000 camera.

The general rule about camera costs is that you will notice a more pronounced difference in the final video if you choose a more expensive package. While this can get extremely expensive, the last thing you want is a poor-quality video. Costs can range from $100 to $2,000 or more every day based on the camera package you decide to use.

Other equipment can cost anything from $30 to $1,000 per day and more.

Video Rendering and Compression Time

These elements are not part of the post-production process – they are part of the production process! However, most people get confused because this normally happens behind the scenes.

Generally, the costs for video compression and rendering are included in the budget and editing time charges.

Transferring video footage to the editing software, post-edit rendering it into a usable format (often for broadcast or internet use), and uploading it to the location where it will be posted are all aspects of video compression and rendering. Production companies do this on computers.

Prices for video compression and rendering can be included in the budget as an hourly charge or combined with other services, such as editing. These costs range from $25 to $75 per hour, based on how long the job takes.

Why Is Video Quality a Crucial Component of Video Production Costs?

Over the past 10 years, the price of video equipment has drastically fallen while the number of video producers and videographers has grown. As a result, there is now an astounding amount of video content on the internet. There have been billions of hours of videos uploaded. Maybe you’re questioning whether making additional videos is worthwhile.

The answer is yes. Videos are the most effective and impressive way to convey ideas, concepts, and stories. However, you need a high level of quality and relevant information for your videos to have an impact and stick in viewers’ minds.

Poor Quality Videos Negatively Impact Your Brand Image

A poor-quality video will have a negative effect on your customers. Most people don’t want to engage with brands that release poor-quality video content.

Nobody is saying you have to overspend on video production, but make sure you’re investing in content with a long shelf life that will help you convert leads into sales.

Corporate Videos Need a High-quality Model

Many people make decisions on whether or not to buy a product or service by watching videos. Therefore, videos are the most powerful medium of communication in today’s world.

High-quality content maintains its value over time and provides value to your business. Within a few weeks or months, you should be able to quantify the return on your video production investment.

Creating a Video Production Cost Budget

Your budget will affect the quality of your video. Modest budgets will probably not give you the results you’re looking for. When determining your budget, consider the following factors:

• Video objective
• Video style and quality
• Creative development and concept
• Runtime

How Much Does it Cost to Make a 10-minute Video?

Many video production companies agree that the average cost of producing a full minute of video is typically between $1,000 and $5,000, and we think that’s a fair starting point to take into account when budgeting.

Bearing this in mind, it would cost approximately $30,000 for a production company to complete a 10-minute video. However, it’s essential to note that the cost of video production could vary significantly depending on the various stages involved in the process.

How Much Does it Cost to Create a 5-minute Video?

Based on the average range of $1,000 to $5,000 per full minute, you could expect to pay roughly $15,000 for a 5-minute video. However, production companies charge different rates, so you could find a cheaper or more expensive rate.

How Much Should I Charge for a 3-minute Video?

A general guideline for 2-3-minute long videos is $2,000 – $7,000. Of course, this relates to a professionally produced video.

Are You Interested in Hiring a Video Production Company? Mosaic Media Films Can Help!

Video production pricing varies based on a number of factors. It’s crucial that you set your own budget before starting the process. Video production companies will generally do what they want and charge you a hefty fee afterward if you don’t discuss your budgetary constraints with them.

Let’s go back to our initial question, “How much does video production cost?” Unfortunately, there’s no simple or straightforward answer. The cost for video production will vary based on a number of factors.

If you’re looking for an accurate and free estimate, the experts at Mosaic Media Films – Austin Video Production Company is more than happy to help you. We’ll guide you through the entire video production process to ensure that you get the most bang for your buck.