HOW MUCH DOES IT COST?
Professional Video Production is not like a freelancer, it is not like a videographer, hiring a production company for the first time it may feel like flying blind.
You don't know how much these things cost, or even how much they're supposed to cost. On the one hand, you want something of good quality, but on the other hand you don't want to be fooled or feel like you're overpaying. Building a video is a bit like building a house. You can build a 300-square-meter two-bedroom house in a popular neighborhood or a 15-room oceanfront mansion. Each has a purpose, but each carries very different price tags and here are some factors to consider:
Production time required
This one is pretty self explanatory. The longer it takes to collect raw images for video, the higher the price. Most videographers will work prices based on a "daily rate" and will charge the same if they work 6 hours a day or 12 hours a day, this is NOT our case as a Production Company, since our staff receives an hourly payment.
Number of STAFF involved
Different filming scenarios require different crew sizes. A simple 1-person interview can sometimes be accomplished with just 2 people, while a complex scene with actors, camera movements, and setting changes may require 10 or more people. The goal in any production is to team up with as many people as necessary to get the job done reliably and to the desired level of quality, but no more than that. The production equipment is heavy and in a long day of work the cameraman cannot load and record, a dedicated staff is required, especially when there is more than one location.
Duration and complexity of the finished video
Duration:As a general rule of thumb, the longer the video, the longer it will take to record and edit. Producing a 1 hour documentary is more expensive than a 5 minute interview. This is a general rule and not an iron clad one and there are exceptions. Complexity:Complexity is also a factor. A 2-minute video created from 3 hours of raw footage with lots of editing, graphic treatments, and a custom musical score takes much longer than covering a speaker in a 1-hour seminar without modifications and will come at a price as a result, higher.
Pre-production time required
Some videos require more pre-production time than others. For example, a national television commercial with 5 actors, 3 locations, and a crew of 8 people meets the following pre-production requirements:
- Time and expenses for casting.
- Time and expenses for script readings.
- Exploration and procurement location.
- Location permits.
- Logistics and travel planning.
- Scripting and approvals.
- Storyboarding or shot listing.
- Customer approvals for scripts and storyboards.
- Expenses for costumers, makeup artists, carpenters, electricians, characterizers, catering, etc.
Other types of shots, like a simple 1-person interview in one location, can be accomplished with minimal pre-production work. The more complex a shoot is, the more time and investment is required.
Camera and gear package
The camera industry has evolved with new options in recent years and it is possible to get good results with low-end camera packages, but you will never achieve professional results like using high-end equipment. There are definitely advantages to recording on these high-end camera systems, but you need to make sure that the costs associated with those advantages produce the corresponding value in the final product to justify them.
Within the camera package the optics that we offer you is almost as important, it is not the same to record with a stock lens than with a Zeiss of $ 80,000 pesos, perhaps if you do not know the differences and benefits that one of these represents, you might feel that the price is very high compared to a package that someone else offers you.
There are also other requirements to consider, such as lighting and grip.
Large productions may require more lighting and Grip (assembly) equipment together with their respective operators, even the rental of a mobile video unit could be necessary and in this there are also sizes and capacities
Experience and skill
Experience and skill will always be reflected in pricing for all types of professional services, including video production. Experienced producers will be better equipped to deal with the changes and challenges that often come up in the course of a video production. The larger and more complex the project, the more important it is to engage with an experienced team that can manage the project and prevent it from going offline.
In terms of skill, different production companies have different areas of expertise. Some specialize in weddings and events, others are strong in animation and motion graphics, and still others have niches in television commercials or on television and long-form shows. Companies generally charge a higher price in the genres for which they have the most skill and experience.
Location fees: many locations have a rental fee. These can range from a few hundred dollars for a small hotel location to several thousand dollars for a high-traffic retail store that must sacrifice its business to accommodate production.
Stock photography / video: Sometimes a production must supplement original footage with the licensed video file because it is impractical or too expensive to send a team to capture the footage. Stock photos cost between $ 35 and $ 500 per image, depending on where they are used and the quality in which they are required.
Talent: Professional talent adds cost to any production and most of the time it is worth it because the right talent will give you a better result than amateurs and will allow you to produce faster and we already talked about time being a cost factor .
Below is a rough (variable) breakdown of talent costs in a typical corporate video.
- Main talent (speaking) - $ 2,000- $ 8,000 pesos / day
- Support talent (speaking) - $ 1,500- $ 4,000 pesos / day
- Supporting Talent (unspoken - bit) - $ 900 - $ 1,500 / day
- Extras and background talent - $ 500 - $ 900 pesos / day
Travel and accommodation: hotel, car rental, per diem, airline tickets, mobile unit rental are included.
All of these factors together contribute to the cost of any professional video project. If you want more information on video pricing or even samples of real video projects with real prices, please contact us. We are here to help you understand the process and feel comfortable navigating the waters of professional video production.