By helloDarwin
May 26, 2023
How Much Does Corporate Video Production Cost?
Looking for a way to promote your company? Creating and producing a corporate video is an excellent step.
Video is the most popular and powerful of online tools. It plays a crucial role in building a marketing strategy, because it maximizes the amount of information about your company that can be transmitted to potential clients and your employees.
The consolidation of your brand image, the promotion of your products and services: these things depend on the quality of your message. Careful study of the choices available to you is therefore of fundamental importance.
Is it better to call on an agency specializing in video production to carry out your project, or a freelancer? What does a videographer do? How much will the project cost?
Numerous solutions exist. Here are some avenues to consider when it comes to making a corporate video.
Curious to know how to create a great corporate video? Read our article on the subject!
How much does a corporate video cost?
Here's a breakdown of the different cost factors in a video production project:
Pre-production costs
Cost Factors | Description | Average Prices |
Scriptwriting | Creating a script for the video. | $500 - $1,500 |
Storyboarding | Sketching a visual representation of the video. | $300 - $800 |
Location scouting | Finding the perfect filming location. | $500 - $1,500 |
Talent/actors | Hiring professional actors or talent. | $500 - $2,500 |
Crew hiring | Hiring a director, camera operator, lighting, etc. | $1,000 - $5,000 |
Equipment rental | Renting cameras, lights, microphones, etc. | $500 - $2,000 |
Production cost
Cost Factors | Description | Average Prices |
|---|---|---|
Filming | Capturing video footage. | $1,000 - $5,000 |
Talent/actor fees | Paying actors or talent for their time. | $500 - $2,500 |
Crew salaries | Paying the director, camera operator, lighting, etc. | $1,000 - $5,000 |
Equipment rental | Renting cameras, lights, microphones, etc. | $500 - $2,000 |
Post-Production costs
Cost Factors | Description | Average Prices |
|---|---|---|
Video editing | Editing the video footage. | $1,000 - $5,000 |
Graphics/animation | Creating graphics and animation for the video. | $500 - $2,500 |
Sound design | Creating sound effects and music for the video. | $500 - $2,500 |
Color correction | Enhancing the color and visual appearance of the video. | $500 - $2,500 |
Final delivery | Delivering the final video to the client. | $500 - $1,500 |
The project as a whole
When calculating the base price of a corporate video, we often talk about a rate per video minute. Quite clearly, ideas of pricing will vary according to the complexity of the video and the resources utilized in its production. Here are some examples that may be useful:
Average prices for a video production project, based on the type of service provider you work with:
Cost Factors | Freelancers | Small Production House | Large Content Production Agency |
|---|---|---|---|
Pre-Production | 2,100$ - 6,300$ | 3,000$ - 9,000$ | 6,000$ - 18,000$ |
Production | 4,500$ - 18,000$ | 15,000$ - 45,000$ | 40,000$ - 150,000$ |
Post-Production | 3,000$ - 12,500$ | 12,500$ - 37,500$ | 30,000$ - 100,000$ |
Total | 9,600$ - 36,800$ | 30,500$ - 91,500$ | 76,000$ - 268,000$ |
And here are the average prices for a video production project, based on the type of video you produce for your business:
Cost Factors | Small Company Video Presentation | Internal Training Video | TV Ad | Web Series | Podcasts | Demo Reel Video Production | How-to Videos | Advertising Video | Total |
|---|---|---|---|---|---|---|---|---|---|
Pre-Production | 1,500$ - 3,000$ | 1,500$ - 3,500$ | 2,000$ | 2,500$ | 800$ | 2,500$ | 1,500$ - 3,000$ | 2,500$ | 16,300$ - 19,800$ |
Production | 3,500$ - 10,000$ | 5,000$ - 15,000$ | 15,000$ | 25,000$ | 5,000$ | 10,000$ | 7,000$ - 15,000$ | 15,000$ | 76,500$ |
The main difference between a corporate video and a company film relates to their respective goals. The former aims to highlight the company’s mission, values, and products, while the latter is more of a tool aimed at promoting the company’s brand image. In either case, you should be aware that the length of the video will have a considerable impact on its production cost.
Factors affecting the price of a video
Nowadays, communicating on different platforms is crucial to the visibility of a business. Video is the most entertaining way of getting a message across. But putting together an adequate budget can sometimes be complicated. Here are some examples of factors that can help you with this.
We’re here to help you define a budget that meets your needs.
Type of video :The purpose, target audience and content of the video are all elements that must be taken into account when deciding the most appropriate type of corporate video to convey your message. There are several possibilities:
Event videos: Showcase your company in the thick of things to show your social commitment or revisit an event you participated in. This type of video requires a camera crew to go to the event venue while the event is taking place.
Informational and educational videos: In the form of mini-documentaries or first-hand accounts, introduce your business by replying to questions asked by users. Incorporate comments from your employees – and even your customers – on the way your company operates. Often shot on company premises, this type of clip lets you show the general public how you work and what the values and goals of your company are.
Narrated videos: Whether revisiting a notable company event or introducing a new project, narration will enable you to put across a powerful message and create an emotion by telling a story behind the images and video sequences.
Promotional videos: Address your target customers directly by demonstrating every aspect of your product. Show your product or service in the process of manufacture, then highlight customer testimonials to emphasize its benefits. A promotional video lets you convey a clear, fun message.
Shooting these different types of video entails varying resource requirements, which will affect the overall cost.
Location and duration of filming
Filming location
One of the keys to giving your video an attractive look is choosing a good location. It must be a suitable space in which to work and create a quality video.
You must also ensure that the set is appropriate to the message you want to convey. If necessary, elements such as backdrops can be incorporated into the filming location to obtain the desired result.
Filming in your offices can sometimes be detrimental to the finished video if the premises are too dark. In this case it is therefore vital to make use of a rental studio or technical assistance so that the lighting can be adjusted.
Filming duration
Making a video is not just a matter of shooting it.
There are certain stages that must not be left out if the production schedule is to be properly established.
Preparation: Before filming starts, there is the pre-production stage to go through. The purpose of this stage is for you and your provider to do the planning needed to identify all the factors to be taken into account on the day of filming. Here, you will prepare the scenario and script (if any), the locations, the different shots etc. This stage may take from 1 to 2 weeks depending on the length and complexity of the video.
Shooting: The filming of the video is the most anticipated stage. It may take 1 day, or several if your project is complex and requires multiple takes and different locations. It is also important to consider the extras’ make-up and preparation needs, if any, before filming begins.
Post-production: This is the last stage before delivery of the final product! Here is where all the magic happens. It is rather a long process in which you will have to watch, choose, cut and splice the rushes*, and add sound, graphics, voiceovers, and transitions. After that, the video will be handed over to you.
*What are rushes? The rushes are all the original elements and shots made during filming.
The production decision: In-house, small agency or big agency?
It is obviously possible to self-produce corporate videos for your company. However, you need to consider the question of your skills in this area and the amount of time you can devote to it (don’t forget, this is a project that will demand some investment on your part).
Advantages:
- You don’t need to worry about arranging for a camera crew to come. This will be a relatively simple matter, since you are the one in charge.
- Shooting will go more quickly.
- If you are on a tight budget, this turns out to be the best solution.
Disadvantages:
- The finished video will never be of as high a quality or as professional as when a service provider is used.
- If the finished video does not meet your expectations, your target audience will be less engaged and the impact will therefore be less.
If you lack the necessary knowledge, a team of professionals will be able to guide you through the development and implementation of your video production project. Depending on your available budget, this is the solution best placed not only to save you time, but also to provide you with an end result that meets your expectations and objectives.
Advantages:
- Calling on a professional enables you to opt for good practice, thus saving time.
- If there is a script, it will of course be well constructed, enabling you to convey your message in superlative fashion.
- The professional will supply you with a superior-quality video adaptable to all desired platforms. The tools and technical assistance necessary to the smooth running of your project will be at their disposal.
Disadvantages:
- The cost of this investment may sometimes be an obstacle, depending on your finances. However, it must be understood that the impact made on the general public by a high-quality video will ensure excellent returns – in contrast to a video created under your own steam.
What is a videographer? A videographer is someone who records images on video and makes films. Each videographer may offer a different combination of services associated with video. He or she generally works alone but may also hire freelancers to top up the team as needed. The videographer takes care of everything, from recording to editing and delivery. He or she works mostly on smaller projects such as weddings or corporate videos. The videographer often has his/her own equipment and can quickly adapt to your project. A videographer is closer to hand and more flexible.
As for company video rates, these depend on the videographer and their experience level. He or she may charge an hourly or piecework rate, depending on what you want to do. Here are some examples of corporate video prices:
- Between $65 and $150 per hour.
- Between $2500 and $7500 for a basic 1-2 minute corporate video where the customer knows what he or she wants.
It is preferable to contact a videographer to get a proper estimate of the cost of your project, because everything depends on the project parameters. It should be emphasized that working with this sort of professional can be interesting if you have a limited budget or if you want to make several videos. Our advice? Shop around!
It is important to give the videographer a video to use as a basis, to help them understand the quality standard and end result that you are looking for. A professional result means different things to different people.
In addition to the costs shown above, note that travel costs need to be allowed for if you intend filming out of town. The cost of accommodation, catering for the camera crew, the extras, set decoration and any compensation payments must also be taken into account.
Important questions to ask before getting into a video production request for proposals
This is the most important stage but also the most complex one, requiring as it does a considerable amount of thought. In this preliminary phase, you must establish the objectives of your corporate video project and consider them in relation to the context in which it will proceed. Here is a selection of relevant considerations that may help you frame the premises of your project:
- What is the objective of the video? Once the objectives have been defined, deciding the content of the video immediately becomes easier.
- Do you need to sell a product or give more visibility to your company? What do you need to promote with this corporate video? It is important to explain the main purpose to the director or videographer.
- Where do you plan to shoot your video (indoors or out, at your offices or in another town)? Whether using a freelancer or an agency, set out your vision and say where shooting should take place.
- What is your budget? Set a financial target and keep a tight rein on the budget with your videographer.
- Does your project involve making one video, or several? At the outset of your project, say where the video will be published. Whether on social media, on your digital platforms or on TV, the dimensions may vary between media. The project may potentially require several versions.
- When will the video be shot, and when will it be published? Set a deadline and an exact schedule.
- Which languages will the video be made in? Will the video have to be made in several languages? Are subtitles or a voiceover required to provide translation to the other languages? This will affect the amount to be budgeted for, so it is important to consider it in order to determine the budget.
- Do you want to hire a camera crew, or entrust the job to a video production agency? Depending on the budget to be allocated to making the video, shop around for your options. Bear in mind that company video production charges depend on a number of factors.
- Are you writing your own script? If you are, ensure that you have time to finish a script, or else delegate the task before making the video.
Complexity and quality of the edit
Once the shooting is complete, it is time to move on to editing the video. For your corporate video to capture the audience’s attention, it must be short and easily understood. To fit in with the platforms it will be published on, the video should present between 1 and 3 minutes of content.
For a better understanding of the basis on which agencies set their video editing prices, it is important to consider what editing a video involves:
This stage is exceptionally complex, as it requires particular attention to the minutest details. In fact, you will have to view the rushes in their entirety to sort what you want to keep from what you don’t.
Then, it is a matter of cutting the rushes and assembling them to create your sequences; creating and adding voiceovers for narrative videos; and making sure the sequences follow on from each other fluidly and the video reflects the message to be put across.
How long this stage of the job takes will depend on the requirements of the individual project. It can vary from a few days for a very simple video to several weeks for larger-scale projects.
If you want to add elements specific to your video, this will affect the editing time and hence the budget you need to allow.
Once again, therefore, it is vital to take plenty of time to plan your project so as to avoid nasty surprises.
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helloDarwin
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