Video Production Guide: Budgeting, Cost Breakdown & Pricing
Did you know that about 3.7 million YouTube videos are uploaded every day?
If you are a content creator, how do you stand out when millions of new videos get uploaded daily?
The answer is upgrading quality with professionally produced videos that make other smartphone-created contents look simple and boring.
As with anything of high quality, a professionally produced video will come with an initial investment.
How much of an investment? That depends on the project. Sometimes a video project can be entirely solo. Others may need a team with equipment.
This video pricing guide will walk you through the video production costs breakdown and provide some budgeting tips to keep in mind during video production.
But first, before we get into costs, let’s discuss why video quality matters.
Why Does Video Quality Matter?
We have already mentioned that high-quality, professionally produced videos will help you stand out from the crowd of smartphone creators. Still, there are several other reasons that video quality matters.
Low-Quality Videos Impact Your Brand
When you’re building and maintaining a brand, every message matters.
If you’re a new brand trying to attract a following, how are you going to get anyone’s attention when your videos are low quality? Or an even better question: why should they pay attention to you if you’re only releasing low-quality videos?
If you’re a brand looking to maintain your market share, releasing low-quality content allows the competition to get ahead.
No One is Inspired By Low-Quality Videos
As humans and creators, we are designed to be inspired and evolve. High-quality videos can inspire future creators and producers. Conversely, low-quality videos can hurt more than they help.
Steps for Producing a High-Quality Video
Here are the basic steps you’ll want to follow when getting started producing a video:
- Draft Video Concept & Style -
- Identify Video Production Needs - a video production agency can be a great source to help with this.
- Source Video Production Team & Equipment
- Shoot the video
- Post-Production Editing
- Sample Screening
- Full Release
Video Production Costs Breakdown
This list of daily corporate video production rates can help when getting started first budgeting. Keep in mind this video production guide lists the rates of a typical video production team. You might need more or fewer members depending on the project.
- Producer - $650-$1,000
- Director - $800-$1,500
- Director of Photography / 1st Assistant Director - $650-$1,000
- Camera Operator - $550-$700
- Sound - $550-$650
- 2nd Assistant Director - $400-$550
- Gaffer - $200-$500
- Grip - $200-$500
Budgeting Tips
Video production can be expensive if you're not careful. So here are a few tips to keep in mind to keep costs low while still maintaining high quality.
Work with Experienced Video Production Specialists
Working alongside experienced video production specialists can be the difference between a smooth production and a nightmare. Video production specialists can tell you precisely what you need and don’t. They’ll also be able to assist with actual production to ensure there are no unnecessary expenses on the day of shooting.
Identify a Target Budget Early in the Pre-Production Process
Much of the research that goes into early pre-production should be focused on identifying exactly what you’ll need to execute your vision. First, use this information to identify a budget early. Then use the budget to navigate the rest of the pre-production process.
Go Local When Possible
You never know what you might find in your city or local area. This is particularly true for identifying shooting locations. So take some time to research and explore your local area. This will help keep travel and overall costs low.
What Factors to Prioritize When Considering Budget
When developing a budget for your video production project, there are a few factors that you’ll want to consider:
- Will you need a scriptwriter?
- How many crew members do we need?
- How many days will it take to shoot?
- Will we need talent?
- Travel costs
- Can we utilize AI or other technologies to improve efficiency?
- Post-production costs
These factors can be challenging to consider on your own. However, the Russell Film Company would love to help. Feel free to message us to discuss your video production project and learn more about how we can turn your vision into a high-quality video.
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