Unlike a product that you can pick off a shelf, videos are bespoke creations tailored to each client’s needs. Various factors influence the overall budget, and understanding these can help you navigate the pricing of video production.
Let’s explore the key elements that contribute to the cost of creating a video.
Shoot Rates: The Time Spent Filming
Most videographers, including myself, operate on Shoot Rates for the time spent recording with their ‘core’ equipment. These rates are usually divided into Half Day and Full Day Rates. Prices can vary widely depending on the videographer or agency, especially if they specialize in areas like drone operation. Generally, Full Day Rates offer better value in terms of cost per hour.
When considering Shoot Rates, it’s crucial to remember that you’re not just paying for the time spent filming but also for the setup time. For instance, a short 2-hour conference might require 2 hours of setup time, making it a 4-hour commitment and falling under a Half Day Rate.
Maximizing Value: Multiple Deliverables in One Session
One way to get more value from a shoot is to record multiple deliverables in a single session. For example, during one filming day, you could capture footage for a promotional video, an interview with the company CEO, several short staff interviews, and a client testimonial. This approach can provide content for various purposes, such as marketing, recruitment, and customer testimonials, all from one day of shooting.
Equipment and Crew: Scaling Up for Bigger Projects
The complexity of your video project can significantly influence costs. Using our conference example, if the event includes a panel discussion, you might need multiple cameras to capture different angles. This setup could involve renting additional cameras and hiring extra operators, increasing the cost.
Voice Over: Additional Audio Costs
If your video requires Voice Over (VO), this can add to the budget. VO artists have varying rates based on recording time, word count, or script length. To avoid extra costs, ensure the script is finalized before recording. Changes after the initial session will require re-recording and additional fees.
AI generated voice over options can also be explored. However, in our experience, the AI voice models for Irish accents are not yet fully developed and sound very robotic when compared to American or British AI voice models.
Other Fixed Costs
Several other fixed costs can influence your budget. These include renting studio or venue space, additional equipment rental, filming permits, and travel and lodging expenses for the crew.
Post-Production: The Editing Phase
Editing is another major cost factor, typically charged at a fixed rate per day. The time required for editing depends on the project’s complexity and the amount of footage. Experienced videographers or agencies can provide accurate estimates based on initial discussions during the Pre-Production phase.
Key Takeaway: Planning Saves Time and Money
As Benjamin Franklin once said – by failing to prepare, you are preparing to fail!
Media Mill understands the importance of pre-production planning – this allows us to speed up filming and editing, reducing overall costs. Pre-Production activities might include market research, scriptwriting, and securing filming permits. While some projects may only require a phone call or two to finalize details, more complex projects benefit from comprehensive Pre-Production planning.
Conclusion: Understanding the Cost of Video Production
In summary, the cost of video production is primarily determined by the time required to complete each phase of the project. Understanding these factors can help you make informed decisions when receiving a quote for video material.
By considering Shoot Rates, maximizing filming sessions, planning thoroughly, and accounting for additional costs like VO and equipment rentals, you can better navigate the pricing landscape of video production.
For your next video project, contact Media Mill to discuss your needs and get a tailored quote. Our expertise in creating high-quality video content ensures you get the best value for your investment, delivering compelling visuals that effectively convey your message.
