How Much Does it Cost to Hire a Video Production Company?
Last Updated: January 05, 2022
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Videos are a compelling way to convey your company's message, whether the film is designed for your own employees or will be posted online for the rest of the world to see. Company films are used for a variety of purposes, including marketing presentations for prospective clients, product demonstrations, and employee education and training, to name just a few. They're quick! They're captivating! And they're the perfect advertising for today's fast moving society.
Video Production Average Costs #
The price of a corporate video is influenced by dozens of factors, including the experience of the production company; the length of the video; the complexity of the concept, storyline and script; geographic location; and the quality of equipment used.
The standard industry price is about $1,000 per minute of professionally-produced video. A three-minute video will cost you $3,000; while a 30-minute video will set you back $30,000. However, sometimes the price drops below $1,000 per minute for longer videos.
Here's a look at some of the individual hourly costs that contribute to the total price, courtesy of a blog post by Jimm Fox of One Market Media, a Canadian video production and video marketing company:
- A novice producer might charge $25 per hour, while a seasoned producer might charge $250 per hour.
- A script writer might charge $60 to $125 per hour.
- Editing costs $40 to $125 per hour.
- Professional actors charge $50 to $500 per hour, depending on experience.
- Experienced crew members will command $25 to $75 per hour.
- Studio costs run $100 to $400 per hour.
- Stock footage runs $20 to $50 per second.
Stages of Video Production #
There are three stages of video production:
- Pre-production is the planning stage. You'll sit down with the production company and explain your vision for the video. Then, the production company will offer alternative ideas and suggestions. Be sure to carefully consider the producer's suggestions, even if they're different from your original vision. Production companies are in the business of knowing what works with audiences.
- Filming begins when the cameras start rolling. Filming usually requires a crew of at least five people, including a producer, director, and script supervisor. The length of filming depends entirely on the length and complexity of your video.
- Post-production is the final stage. The footage is edited and graphics and stock footage are added. Sometimes production companies go through more than one phase of editing to perfect the final product.
There's little you can do to control filming costs, but you do have some influence over pre-production and post-production costs. To limit pre-production costs, come to the initial meeting with a clear idea of what concepts the video should cover and how long you want it to be. The less time you spend at the planning table, the more money you'll save. During post-production, don't send the company back to the editing room for minor issues that come down to personal preference. Extra time in the editing room means extra dollar signs.