Not surprisingly, one question we get asked all the time is "how much does it cost to produce a video?". It's one of the first things you'll consider when you're looking to create a video for your company.
In this post, we'll look at how much BiteSite charges for video production and what the factors are that affect our rate.
Similar to our last blog post, we'll break it down based on four different video categories: Event Coverage Videos, Live-Action Unscripted Videos, Animated Videos, and Live-Action Scripted Videos.
Before throwing some numbers out there, we should note that the reason it can be hard to find this information is that costs can vary greatly depending on a lot of factors like complexity of the concept, location of the shoot, and more. Not to mention that even within our own company, costs change over time as our company grows. That said, we're going to give you some numbers based on the projects we've worked on in the past, and by the end you should have a pretty good idea of how much you can expect to pay for a particular type and quality of video.
Let's look at each type of video.
$3,500 CAD to $6,500 CAD (+ tax)
Event coverage videos are typically 1 to 2 minute videos that highlight key moments from an event and sometimes include quick and casual interviews with attendees. "Events" encompass anything from conferences with multiple speakers that span across multiple days to quick one hour lunch-and-learns at a business' office space. Here is a sample video.
Event videos typically cost between $3,500 and $6,500. The biggest factor that tips the scale to either the lower or higher cost is event duration. If your event lasts 1 hour, an entire day, or several days, that all affects cost not only in terms of shooting time, but also in terms of post-production. In addition, the number of shooters required to cover the event will affect the cost.
$5,500 CAD to $10,000 CAD (+ tax)
Live-Action Unscripted videos are 2 to 3 minute videos that are usually made up of interviews and b-roll (b-roll shots include every shot other than the core content (interviews) of the video). Examples include client testimonial videos, staff testimonial videos, and general promo videos. Here is a sample video.
Live-Action Unscripted videos typically cost between $5,500 and $10,000. If you're wondering where your particular video project lands in that range, you'd want to ask yourself "how much is there to do?" For instance, these types of videos can be as simple as shooting one interview plus a few simple b-roll shots in one location which would come in at the lower end of the cost scale. Typically, clients will want about 3 interviews in multiple locations which leans towards the higher end.
These videos can also grow to be as big as shooting multiple interviews in multiple cities across several days, and having higher quality b-roll and interviews by putting more time into planning, pre-interviews and lighting. In these cases, we've seen these videos reach as high as $17,000 CAD.
$10,000 CAD to $20,000 CAD (+ tax)
Animated videos refer to any video that is 100% illustrated and animated with no live-action camera footage. Animated videos usually include a voice-over script and music track. A popular application of the animated video is explainer videos that are used to explain what a product or service is along with its benefits. Here is a sample video.
60 to 90 second animated videos fall in the $10,000 to $20,000 range. The cost depends mostly on the style and quality of illustration and animation, which are greatly determined by you (the client). Some illustration/animation styles are easier and faster to accomplish than others. To help give a better idea, you can see one of our simpler videos and one of our more complex videos below.
- Simple: https://www.youtube.com/watch?v=y5PNixQLYmI
- Complex: https://www.youtube.com/watch?v=6y3txtJf8CI
$15,000 CAD+ (+ tax)
Live-Action Scripted videos are by far the most complex videos we produce. These videos feature actors performing a script and also usually involve paid locations, hair and make-up, extra crew and more. If executed well, these videos can deliver exactly the message you'd like your audience to hear. Here is a sample video.
These videos require more work and consequently, are more expensive to produce than the others. While there is a huge range in this category, we say that $15,000 is a good starting budget. Giving an upper limit to these videos isn't as helpful because what is involved can vary greatly. It's not unheard of to hear companies spend over $100,000 on these types of videos. At the very least, they require more time to be put into pre-production stages and more help is required on the actual shoot day (extra people and equipment).
Budget itself is not the most important thing
When it comes to planning your next great video with a video production company, it's important to understand that your budget does not always need to limit your project in terms of quality or scope. It's always a good idea to have an open and honest two-way conversation with your video production company. Whether you have a small or large budget, knowing how much you and your vendor have to work with can really push the creative boundaries. Some of our best work has come out of small budgets and when we have a little extra to play with, we push ourselves to do some really cool things.
As I mentioned at the beginning of this article, information about how much it costs to produce a corporate video can be hard to find. There are a lot of factors to consider, but hopefully we've given you a rough idea of what to expect. Remember though, the open and honest conversation about budget with your vendor is just as important as the budget itself.
We hope this answers some of your budgeting questions and concerns if you're looking to get a video produced. If you have any thoughts or questions, please feel free to comment below.