What's it going to be? A Yugo or a Lexus?This is the most pressing question most companies have when it comes to producing a video. Frustratingly, that question is roughly the same as: "What's it going to be? A Yugo or a Lexus?"
That's probably an overly judgmental comparison. In truth, though, the car buying comparison is one you hear a lot when it comes to the question of "how much will this video cost?" A not-so-practical friend says, "I've saved some money-- what kind of car should I get?" The answer, of course, is impossible without knowing how much money they've saved. And what kind of car they want. A $500 beater may be exactly what they need; or a $50,000 Tesla might be the only car that suffices.
Even though you can't answer that oh-so-common question, there are six factors that go into the cost of your video. The most predictable of which is the cost of filming.
#1: FilmingYour filming costs depends on two things: the number of days and the size of the crew. If the production elements are well planned or coordinated in advance by you—or the shoot only involves one person on camera—you may well get away with a single videographer setting the lights, recording audio, and doing the camera work. For a mid-range production, a one-person shoot will cost between $125-$200 an hour, or $500-$1,000 a day. This includes all of your equipment costs. As the shoot becomes more complicated, more crew is added to organize the day. Each crew member will range from $350/day to $700/day for a corporate video shoot. A mistake companies sometimes make is trying to estimate the number of hours by the amount of time they anticipate filming. Not only are the filming hour usually underestimated, but the cost of prep, travel, setup, and break-down are typically forgotten. Most shoots will include not just the main subject, but 2-4 hours of B-roll as well.
But filming may not be the biggest cost you face when you hire a production company. Read up on the other five factors on our company blog, Hurricane Images Inc. Blog, as well as tips and tricks for reducing your costs and getting the best deal possible.