Just like anything else you might buy, there is always a fluctuation in price and video production is no different. Unfortunately, it's never as black and white as saying video production costs ‘X’ amount as there are many factors that go into the cost of video production. In this article, we will break down what you should consider when piecing together your video project.
With more gear variety in the market from camera-capable smartphones to large-scale cinema cameras. It is now easier than ever for any brand or individual to produce effective video content. For example, aerial footage, 10 years ago would've required a helicopter full of a production crew. Fast forward to the current day and you can get a drone for under £500 that captures decent 4K footage. The one thing to consider is, would the footage look better from a helicopter full of video production crew members or a £500 drone being flown by an amateur? Sometimes the drone is fine for what you need, but if you're looking to up the quality of the result, and add value to your brand, often hiring the professionals goes a long way.
Some examples of video production costs:
This would typically be a 1-2 days shooting with a 3 person crew that doesn’t require our team to help with creative development or scripting but needs a bit of logistical organisation with the shooting schedule and a call sheet for all crew. A small and effective team can operate efficiently to set up lighting and operate a camera to capture as much content as possible, shoot a talking head interview and get good B Roll coverage. Something within the budget range would typically have a few different deliverables and edits.
A great example of this would be this extract from a project we did with Simone Thomas Wellness.
This increase in budget allows for an extra day shooting, which may include a different location, with small and effective crew, but allows for extra time in the edit suite to add in animation to the video, creating a different dynamic to the deliverables. Speaking of delivery, at this price point the value for money also increases because you can also utilise multiple deliverables.
For example, the main video is in 16:9 aspect ratio, 1x1 social and 9:16 for social channels, and perhaps even more variations for different markets and plaforms.
An example of this would be our brand film for Benevolent AI, which you will be able to see how the edit notably has more animation which helps add to the message being portrayed in the video.
Longer pre-production, larger crew, multiple filming days with lots of deliverables e.g. Hero 60 second brand film, 30 second cut down, 5 x 15 sec social videos plus a content pack of short clips fully graded and ready to use further down the line for constant updated content. The budget will include casting actors/models.
This is typically where the bigger campaigns start with the extra budget either being used for more ambitious pre-production, planning, storyboarding and casting or factored into the post timeline.
The extra time allowed to shoot often gives the crew more options and time to set up different scenes and shoot at multiple locations. The crew size increases to 4-6 crew members, allowing each member to hone in on an individual task such as Audio, Lighting, Camera Operating, Directing and as a campaign grows in size its imperative these job roles are delegated in order for the shoot to run smoothly.
Having access to professional actors and models can really tighten up the production quality.
Full pre-production, scripts, storyboards, larger crew, multiple filming days with more deliverables, with the budget including casting actors/models, scouting and location management etc. This budget could either be spent delivering one advanced piece of longer form content or used for multiple deliverables as part of a campaign.
You get full access to all crew members, multi day shoots, time is greatly increased in the edit suite which allows the team to implement some truly amazing animation, sound design and bespoke colour grading.
Our brand film for Herbalife Evolution is truly the finest example of this. We shot this in Southampton, having researched and scouted fresh, new locations that had never been used for filming before. We used advanced lighting techniques, multi camera setups and shot a library of B-roll to implement into the brand film.
The saying’ time is money’ comes into play here. With bigger budgets it allows the crew to really develop ideas on location, to do set design, light the scene and really indulge into what they are creating. This time does come at a higher cost but the end product is far greater as a result.
Video production companies have to take into account, pre-production, production, and the time-intensive post-production phase. These factors are easy to overlook and it's easy to underestimate how long pre and post-production take and their importance.
Some projects may require studio hire, set hire, specific equipment hire and professional models, music licensing, etc, all of which aren't free and are another accumulating cost factor.
Some elements that go into a video project could include:
Usually, you’ll find the more logistically complex the project the bigger the cost. Think of a watch, the internal mechanism of a basic, simple watch can be easily and quickly produced and therefore can be bought for £10 or so. Compare to a luxury watch, with a more intricate mechanism that operates from the power of kinetic movement, these watches are easy for £300+. In the world of video production, the more moving parts in a production the greater the cost which is rewarded with a better result, similar to the watch.
Not all Video production companies are out there to rob you of all your budget! At Thin Reel we help you to try and reduce this cost. Simply be transparent with our team and utilise consultation time to discuss your plans thoroughly.
Maybe, it comes down to a few factors. Number one is time. Video production requires a lot of it. And often it's hard to keep up with today's content demands from consumers. Having a dedicated team working in this area, who do it all the time, means you stay ahead with your video marketing ambitions and ultimately end up with content that has a premium feel, elevating your brand. Freeing you up to focus on the many other aspects of business that require your attention.
If you are an early-stage start-up then possibly creating content yourself is a more cost-effective way to get your message out there regularly as you work up the ladder. On the other hand, you may be established and need to launch a new product or tell your brand's story. And often having an outside perspective from a video team like Thin Reel can work wonders as you are likely to want to reach a larger audience with more at stake. So the marketing needs to work. The needs of these two different situations will influence the justification of production values. A brand that will gain value with higher content quality is most definitely a good fit for a video production company.
Animated video is different from live-action video. However, they tend to follow the same trend for quotes. Similar to the kind of production for live-action, it depends on the complexity of the project and what kind of animation is required, whether that's 2D or 3D, if you have assets already or if you need them to be designed, and how long the content needs to be. Following on from the price to value pattern, Animation is no different. You can get very skilled animators and those with a more modest skill set.
Freelancers are sometimes budget-friendly because their costs revolve around a one-man band and can come across as more affordable. This isn't without its drawbacks because at the onset they are the only ones there in charge of creating content and their time can only be spread so far. Production companies often have multiple people on a production at a given time, all with specific jobs such as producing, camera operating, lighting, and audio, you get the idea. Ultimately, this means the attention to detail and ability is far greater than the one man band. And you can often achieve more in a short space of time.
The common theme throughout has been value for money. The key takeaway is to remember that video content is accessible by all at some level. But just like everything in life, you get what you pay for. Hopefully, this blog post has shed light on understanding video production costs and how your money is distributed when it comes to content creation.
Never let budget hold you back, the most important aspect is getting creative with storytelling. Story and bold, captivating creative ideas always triumph.
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