Why does video content cost so much?
You’re probably thinking something like… “I can just shoot it on my phone” or “My friend could do it for free”.
I am going to do my best to explain what influences the costs of different types of content, but you need to read this from the perspective of an individual or company selling the content.
Content creators spend a lot of money investing in high-quality tools. From cameras and lighting equipment to editing software, music, voiceover artists and more. It’s a business after all.
Creating videos is not easy and requires a lot of time and effort. This article will provide you with information on what goes into videos cost and what you need to know if you want to create one.
Firstly, What is the purpose of a video?
The purpose of a video is to convey information, entertain or persuade. This can be done through live-action videos, animated videos or even stop motion animation.
There are many different types of videos that you can create for your company. These include:
- Promotional videos
- Explainer videos - Whiteboard animations
- Animated gifs or motion graphics
- Video testimonials
Videos are effective for businesses of all sizes to sell their products and services, educate their customers and turn a brand into a powerful, humanised story that's relatable.
How much does it cost to create a video?
A video is an excellent way to capture the attention of your audience and tell your story. It is also a great way to make your content more interactive.
The cost of creating a video depends on the type of video, length, complexity, and production quality. It can start anywhere from free to hundreds of thousands of dollars.
The Breakdown of Your Video Production Cost
A video production company can be a great way to promote a business. It is a cost-effective and powerful way of getting your message out there. However, not all video production companies are created equal.
The breakdown of your video production cost will depend on the type of service you need from the company as well as the number of hours they will have to spend on it. For example, if you have an in-house team that is willing to produce videos for your business then the costs might be lower than if you hire a professional video production company to do it for you.
The cost of filming and editing a video increases with the number of people involved, the quality of your technology, the quality of your editing, the hours it takes to shoot… and the list goes on!
Then there is the experience and skills that come with more highly trained videographers, visual effects artists, animators and actors. People have invested many hours, months and years learning, training and perfecting their skills.
What goes into the cost of filming and editing a video
From cheapest to most expensive:
Lowest price: Shot on the phone in one take, no editing, no prep
- $ Storyboarding
- $ Scriptwriting
- $ Practice run-throughs
- $ DSLR
- $ Tripod
- $ External microphones
- $ Multiple takes with serious attention to detail
- $ Paid editing software
- $ Paid background music
- $ Custom music
- $ Voiceover artists
- $ Animations
- $ Motion graphics
- $ Opening and closing title sequences
- $ Colour grading
- $ VFX
- $ Captions
- $ Concepts and competitor research
- $ Multiple cameras
- $ Multiple tripods
- $ Lighting equipment
- $ Shot on locations
- $ Actors
- $ Multiple crew
- $ Green screens and studios
- $ Drone footage
Highest price: Shot on multiple high-end cameras with a crew and actors, lots of prep and planning, editing and post-production
As you can see, there is a lot that goes into making a video.
Other factors around pricing:
Skill, knowledge and proficiency
Speed and accuracy
Conceptual and creative thinking
Ability to understand a brief
Quality of equipment used
Time spent creating + time spent brainstorming
How to Cut Down Your Video Cost
The good news is that you can cut down on video costs by using some of these strategies:
- Research and know precisely what you’re looking for, before engaging with video production companies
- Plan your video as much as possible before filming. From scripts to storyboards, shot lists and shoot timelines
- Create templates and video overlays that can be reused across multiple videos
- Use stock footage or royalty-free images and music to keep costs low.
- Build an internal team to keep the costs down
- Create a relationship with a video production company and reuse their services. They will reward loyalty and be able to reuse assets and understand your business's entire video portfolio
Conclusion: How Much Videos Cost and What You Need To Know If You Want To Create One
Videos are a great way to get your message across to your audience. They can be used for marketing, education, or entertainment purposes. They are highly effective content pieces that can cut through the noise and help grow your business.
Maximise your money by creating a relationship with a video production company that understands your vision and is capable of producing a wide variety of types of videos. The ability to reuse assets, build a cohesive video portfolio and reduce time understanding briefs goes a long way to keep costs down.