video production

HOW-TO FIGURE OUT VIDEO PRODUCTION COST

Pricing out video production can be kind of tricky. Our hope is that this post will give you more insight into what goes into producing a video so you know where YOUR money is going.

DAY RATE

There is pre and post-prodution activities that take place in making a video. Things like travel time to and from the shoot, color correcting the video in post-production, and converting the files into something they can use. A 1-hr video takes a lot more than an hour of production.

We figure out how much time will be spent on a project (how many days), then we apply the day rate to come up with our total cost.

How much does a 3-minute video cost?

A 3-minute video can vary greatly in how long it takes to produce.  It all depends on what has to be shot and how much time we’ll need in post-production.

Let me walk you through the process for how we breakdown our time to help you understand it better.

CONCEPT PLANNING

This can be done in-person or over the phone. We do things like:

  • outline the approach to the video
  • discuss with customer the subject matter and raw video that must appear in the video
  • discuss how many on-camera interviews will be conducted; select interviewees and discuss plan for contacting and coordinating each person

PRE-PRODUCTION

This can take anywhere from 1-2 hours. Preparations include:

  • create any necessary shot lists (based on the concept meeting)
  • prepare interview questions (based on the concept meeting)
  • prepare equipment (checking/testing the camera, lights, media cards, tripod)

VIDEO SHOOT

How many video shoots will be required to capture what we need for the video?

Sometimes everything we need to shoot is in a single location and all available on the same day. Perfect.

At times, there are multiple locations involved, someone critical to the video needs to be interviewed on a different day, et cetera.

As far as the shoot itself, here are some of the things we do:

  • videographer visits each site to shoot everything on the shot list
  • videographer also shoots other raw video he/she finds relevant or beneficial
  • videographer interviews predetermined people

We help coordinate things like additional videographers, sound technicians, an live online streaming coordinator, a teleprompter operator, hair and makeup, et cetera. Adding professionals like these does increase the production’s cost.

POST-PRODUCTION

This is where a lot of the time gets spent that the client never gets to see. Some of the things that need to be accomplished are:

Logging Raw Video

  • review all the raw video that was shot
  • transcribe sound bites from interviews

Script Creation

  • notes regarding sound bites and raw video are reviewed
  • sound bites are selected, then arranged into story form to create a script
  • script is emailed to customer
  • minor changes are discussed by phone, changes requested by client are made

Video Edit

  • edit video according to the approved script
  • relevant graphics are created
  • preview video is provided to customer for viewing
  • minor changes are discussed by phone, changes requested by client are made

Wrap

  • digital files are created

Taking into consideration each of those phases… concept planning, pre-production, video shoot, and post-production… most projects take 4-5 days to complete.

Price is always agreed to in advance with our clients so they know what the cost is before production begins. We have had a few situations where a project takes longer than anticipated and the price has changed during the process. Communication is the best way to avoid any potential cost issues.

LOW-COST VIDEOS

We do produce low cost videos for small business owners with tiny marketing budgets for Rs.50K.

Those videos are all about keeping a very strict production schedule. From beginning to end, the entire production needs to take us less than a day to create the video. We do that with a 1-hour video shoot, during which we follow our 3-step storytelling process. We ask a string of questions leading to answers that essentially create the script on its own, then we edit everything together.

These customers also relinquish creative control to us and trust we will deliver a video that’s on-message. They do not get a script to approve or a preview video that allows them to ask for changes in the final video.