Creating a video can be an excellent way to share your message, product, or service with the world. However, many new businesses are unsure of how much it will cost to produce their corporate video.
When it comes to producing a video, many people wonder how much it will cost and whether or not they can afford the production. The truth is that many factors go into determining what your video costs.
In this article, we are going to break down some of these factors for you to get a better idea of the cost of creating a corporate video.
9 factors that determine your corporate video production costs
Project management (and project coordination) expenses
A video production project manager is a person who oversees the entire process of creating a video. They make sure that every step of the way, from beginning to end, runs smoothly and without any problems.
They ensure everyone on their team meets deadlines, stays within budget.
Script development costs
When it comes to video projects, scripts are a must. You can hire professional script writers to produce a script or outline. Scriptwriting costs vary depending on whether you require a fully written script or an outline for your on-camera speakers to follow.
This can also vary depending upon how long your videos are.
Cost to hire on-screen talent
The cost of hiring an actor or model for video production depends on the type of actor or model you are hiring, their experience level, and the number of hours they will be required to work. Actors with more experience often charge higher rates than new actors.
However, some actors may negotiate a lower rate if they are interested in your project.
Costs associated with other types of visual assets
Most videos benefit from shots that complement what is being said on the screen. In the video production industry, we call these B-rolls or cut-away shots. B-roll or cut-away shots are a great technique to use in video production.
These shots can be anything from simple landscape images or an interview subject looking at the camera while you ask them questions. This technique is useful because it allows you as a director to tell your story with visuals instead of just words.
Types of extra visuals and footage, including:
- Stock images
- Illustrations/3D elements
Costs to add special effects to videos
Special effects are no doubt an integral part of any video production. Not only do they add to the overall quality, but also provide you with more options for creativity and versatility in your project.
If your video project includes special effects such as animations, motion graphics, or title overlays, the cost of video production will increase. Some videos require simple graphics, while others are entirely animated.
Where are you filming? Are you filming in multiple locations? Do you need a sound stage or recording studio? Are you shooting with a green background? Location cost is a major factor in the total cost of making a video.
If a studio is required, studio rental prices vary based on size.
Music licensing fees
This factor applies if you require sound effects or additional music in your corporate video. Some websites offer license-free music but always check the quality of audio. The cost depends on whether you are utilizing pre-produced stock music (which can be royalty-free or royalty-dependent), or are hiring a producer for a full-fledged customized soundtrack that reflects the nature of your corporate video.
Video production crew costs
Video production crew costs can be a major expense for any business. This is because it needs to be made up of many people with different specialties, and several factors need to be taken into consideration when determining how much each person will cost.
- The first factor is whether or not you are hiring someone who has experience in video production or if they are new to the industry. Someone with more experience may charge higher than someone who’s just starting.
- Another important thing to consider is what kind of equipment you want your crew members to use on set – this can greatly affect the price.
Cost of post-editing & rendering
The cost of post-editing the video depends on what you need. The more expensive it is, the better quality of work will be delivered. Your videos must be edited well, because poor editing can cause viewers to lose interest quickly and stop watching.
The more time you spend planning and preparing for filming a corporate video, the less it will cost you in the end.
Dustin Hill Production is a Singapore-based video production company that specializes in corporate videos. We have an experienced team of creative producers who want to work with you on your next project. We can help make the process as easy and affordable as possible.