Is Hiring a Video Production Company Worth the Money?

Did you know that 72% of customers prefer videos when learning about products or services?

If you too want videos as part of your marketing strategy, getting experts to do it is a great choice. It’s especially when you have no in-house video production team. But with no prior experience, you might have no idea of the video production cost breakdown.

Don’t feel discouraged yet.

With this guide, you’ll have a better understanding of the total video production cost for your projects. Read on and find out more today.

How Much Does Video Production Cost?

In the United States, the average cost for producing videos can range between $880 and $1,200. The price will vary depending on a few factors like the video length, the number of cameras needed, chosen location, and additional graphics.

Most professionals offering video production won’t have a standard for their pricing. Instead, they consult with clients and base their quote on your requirements. After all, this will dictate the amount of time and labor needed to accomplish the video.

With a video production professional, your video quality will level up and look more attractive. Your videographer can also contribute great ideas you might miss. Your video quality is important, so it’s better to listen to expert advice.

What Can Affect the Video Production Pricing?

As said above, the cost of production will change based on a few aspects. Here are some things you should remember if you’re getting an expert to produce your videos:

1. Time

Some companies offering video production will base their prices on your final video’s runtime. Others charge their service by the hour, as long as they’re working on things that completes the video. A few of these include preparation, location or studio shoots, and video editing.

2. Number of Services Used

Commercial videography has lots of facets representing different services. So, when you’re dealing with a company, you must think about these things. Before you agree on the price tag, ensure that you have a concrete idea of the services you’ll get by working with them.

For example, some packages will offer you location shooting time and music rights. Otherwise will add more and cover expert voiceovers, editing, and YouTube uploads. These services can serve as add-ons for most video production companies, that’s why you need to take time to understand the services included in your packages before choosing them.

3. Location

The average domestic airline ticket costs $359, which is something you’d expect to pay when traveling to a remote location when producing a video. Video production companies will have a certain mileage radius for their business operations. If you intend to push them further to shoot videos, your videographer might end up adding travel fees in addition to their normal charge.

4. Equipment

Most videographers won’t miss out on charging you for the equipment used for video production. It’s a common practice since you’re also technically renting their equipment. This isn’t a shady tactic since they do this to recoup their equipment’s initial cost and the maintenance fees associated with it.

If you want a higher-quality video, expect to pay a lot more for companies with cutting-edge videography equipment.

5. Crew Expertise

This is another cost that might not make sense when you’re not privy to the video production industry. The truth is that the price can change depending on the crew’s experience, demographics, and region. If you want a professional crew with thousands of videos under their portfolio, be ready to pay a premium.

6. Pre-Production Costs

Before making the video, you’ll also charge for various activities that contribute to it. This includes scriptwriting, location scouting, permit acquisition, and scheduling. If you decide to change your script during this phase, expect the videographers to charge more.

This isn’t a huge issue if you opt to write the script using your employees. In some cases, your video production company won’t charge extra if you only ask them for advice. That’s why take advantage of this if you decide to go down this road.

When scouting a potential filming location, you must budget both the time and travel expenses for your scout. It’s easily avoidable if you hire a crew that operates within your desired film location. They most likely know the area better than you do, meaning they’re faster in choosing an ideal place for a shoot.

The bottom line is that your pre-production costs will cost more the more intense the preparation is. To ensure you have a better experience, ensure that you know the difference between a videographer company and a production company, which you can learn more about here.

7. Post-Production

The bulk of the required work to produce a high-quality video lies in post-production. This is the part of the video production where budgeting is a must. In this step, your video will go through a transformation with story editing.

Post-production enables you to give rounds of feedback to your videographers and video producers. Make the most out of your payment and ensure that everything goes right with your video. Your video will also undergo coloring and grading to make it look crisp and beautiful, regardless of the device used to view it.

Take note, video editors will often opt to specialize with either. It’s rare for someone to push their abilities and master both coloring and story editing. So, it’s normal to hire two editors to handle these tasks.

With a bigger project, you might end up accounting for motion graphics and titles. To have an accurate plan for the final price tag of your project, budget more than the initial quote. That way, you’ll have the funds needed in case something important arises.

Learn Video Production Pricing Today!

These are some factors that can affect the video production cost of your promotional film. Use this guide as a reference if you want a hassle-free budgeting process.

Did this guide help you decide on a video production budget? If so, read more of our content and learn more about video marketing and other strategies for business growth, right here, right now!

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