Attention spans continue to grow shorter, leaving companies with an estimated 2.7 seconds to capture a person’s attention in today’s digital world. No format catches and keeps attention better than video. In fact, the worldwide population reportedly watches over a billion hours of video daily on YouTube alone.
Part of the reason video is so effective is its versatility. Video can support television advertising, streaming, social media, website explainers, staff introductions, training, and a lot more. Video is easy to digest and can showcase, demonstrate, explain, provide transparency, and help build authenticity and credibility like no other readily available medium.
But video is not just effective, it’s cost-effective, too. More than 90% of marketers report that video produces a good or high ROI. Nine out of ten consumers claim that seeing a video helps them make a purchasing decision. An estimated three-fourths (74%) of those who get an opportunity to see a product in action via an explainer video will buy the product.
A high-quality corporate video can increase brand awareness, strengthen credibility, and even increase sales. A poor-quality video can do exactly the opposite. That’s why hiring a qualified videographer is nearly always a good investment.
But how much does video production cost? Some guides suggest budgeting around $2,500 for every minute of finished video. However, as you’ll learn below, pricing can be more complex than that. We’ve seen 30-minute videos clock in at $1,000 and 30-second videos at over $100,000. Before we delve into the details of pricing, let's explore a few fundamentals that any company hiring a video production company should know.
That Sounds Boring, Jump to the Price Info!
Many video production companies are capable of producing just about any type of video that may be needed. Here are some of the most common types of videos that video production companies are hired to produce:
Using storytelling to get attention and evoke emotion, brand videos showcase a company’s mission, values, or products. One of the most famous in this category is Apple’s Think Different video from 1997. The video focused on the company’s innovative spirit and mission to change the world at the same time it encouraged viewers to embrace their own uniqueness.
Designed to build trust in a brand and convert prospects into customers, case studies and testimonial videos provide social proof that your products and services have been used successfully by others. Here’s a testimonial video showcasing an customer’s experience in using HubSpot.
Commercials are short-form videos used as ads on TV, streaming, social media, and other digital channels.
Educational in nature, demo videos help viewers understand how a product or service works. Here’s an example from Nespresso.
Used to provide instruction or to educate, a documentary can be thought of as a non-fiction motion picture.
Educational videos help demonstrate how to use a product or service, to onboard employees, and for many other purposes.
A form of educational video, explainer videos zero in on a fairly narrow topic or specific product or service and are meant to build awareness. This video for Google Wi-Fi, for example, explains in simple terms how their technology boosts internet speed.
Event videos can be promotional, which are intended to boost ticket sales, or recaps, which are designed to show those who didn’t attend what they missed. Here’s a recap produced for Hubspot’s Inbound 2023 event.
Addressing common challenges or products, how-to videos educate customers and prospects on topics related to your product. Here’s a good example created by SEMRush to explain how to create content that is designed to achieve first-page rank on Google.
Expert interviews help build credibility for a completed product by highlighting the product itself or components used in creating the product. This video promotes the use of sports hydration products by interviewing an expert to explain the science behind the need to hydrate.
These videos let viewers virtually explore a location or product from every angle, as if they were present or holding it in their hand. According to research done by Google, 360-degree video ads generate higher click-through rates and achieve 41% more views, shares, and subscribers than regular video ads.
These videos blend real-world locations or objects with digital elements. The IKEA Place app is a good example.
If you're new to hiring a video professional, you might wonder about the difference between a videographer and a video production company. It's very common for people to use the term videographer to describe both, but there's a key distinction you should know.
A videographer is an individual who specializes in creating videos. They typically handle various aspects of the video production process, such as filming, editing, and sometimes even scripting and directing, depending on their expertise. They often work alone on a freelance basis. Since they typically handle all aspects of a project, solo videographers are often referred to as "one-man bands."
On the other hand, a video production company is a business that offers a range of video production services. This typically includes videography, but it often extends to other services such as concept development, screenwriting, storyboarding, casting, location scouting, production design, editing, motion graphics and visual effects, sound design, audio post-production, and more. Video production companies usually have a team of professionals who collaborate to create high-quality videos for their clients.
One of the advantages of hiring a video production company to produce your video is that they can usually provide all of the resources needed for filming, from high-end cameras, dollies, lighting equipment, and microphones through post-production facilities and equipment, and include them in the project quote. But that’s definitely not the only advantage of hiring a video production company, or in many cases, even the most important one. Here are a few more:
So how much do videographers and video production companies charge?
Before diving into the costs of various video production services, it's important to understand the concept of a day rate. In filmmaking, a day rate refers to the fixed amount of money paid for a single day of work, usually up to ten hours. This rate covers the individual's time, expertise, and often equipment for that day's work on the film production. Understanding day rates can help you better grasp the overall costs involved in video production.
Here's a breakdown of the usual day rates for production services, along with the typical rates for pre- and post-production services that are commonly requested by business and marketing clients. These ranges reflect what we typically see when producing videos for our business clients.
It’s important to note that very few projects can be priced by a day rate alone. In most cases, projects are too complex to be quoted based on time. That’s why most video production jobs are priced on a project basis, taking into account all the variables that will be involved as well as the intended use of the video.
Think of the screenplay as your video's blueprint, or the instruction manual that the production team will use to create your video. Getting the messaging, tone, and structure of your video right at this stage is crucial, as everything else builds upon this foundation.
$400-$600 per minute of video
Location isn't just a backdrop – it sets the mood and strengthens the storytelling. Even for something as simple as an interview, location can play a bigger role in the look and feel of your video than cameras, lenses, and lighting. Locations vary significantly in cost, ranging from no cost at all, such as natural settings like the woods, to more budget-friendly options like renting an Airbnb, to very high-cost locations like a virtual production studio. Typically, we recommend budgeting the following for locations.
$100-$300 per hour
The production designer works alongside the wardrobe and props departments to bring the script to life. Together, they ensure the visual environment, clothing, and props all align with the story's setting and tone.
$0-$5,000+ per project
Ideal for capturing small events or single-camera shoots that don’t require lighting or audio recording, a solo videographer is a cost-effective option for very small projects.
$500-$1,500 per day
Offering more flexibility and creative control, a small crew is perfect for interviews, testimonials, introduction videos, and certain commercials.
$2,000 to $5,000 per day
A large crew is needed for projects demanding intricate setups, like high-end commercials and music videos.
$5,000-$10,000 per day
Hair and makeup services ensure that on-screen talent looks their best and fits the desired aesthetic of the video.
$300-$600 per day
Skilled actors and actresses are an essential element of any narrative video.
$250 to $800 per day
Some productions require specialty equipment such as Russian arms, motion-control robots, or cable cameras. These are usually rented along with specialized operators to ensure that the gear is used safely.
$0 to $10,000+ per project
Editors assemble the footage captured during production into a compelling narrative. Color grading, on the other hand, elevates the visual appeal and ensures a consistent aesthetic throughout the video.
$75 to $300 per finished minute of video
Eye-catching motion graphics and animation add visual interest, help illustrate complex concepts, and supercharge storytelling.
$25 to $150 per finished second of video
3D animation is a great tool for diving into the details of smaller or more complex products. It is also often used to bring brand mascots (think the Geico gecko) to life.
$100-$300 per finished second of video
Although most clients choose to license existing music, there’s nothing better than an original score.
$300 to $1000 per minute of music
A professional voiceover artist can provide narration or key information, adding clarity and depth to your message. It can also add a layer of professionalism and production value to your video when done well.
$200 to $500 per minute of voiceover
Video production costs more than taking a still photograph or writing a blog article. That’s because several unique factors go into video production costs. These include the size of the crew, the experience of the crew members, length and complexity of video content, production location(s), and the possible need for additional services such as voiceover talent or animation.
Let’s take a look at each of those individually.
Some projects are simple enough to require only 1-3 crew members. Other projects may require a director, cinematographer, multiple camera operators, assistant director, boom operator, 1st and 2nd ACs, and more… and that doesn’t even factor in the post-production team! Needless to say, the more crew members involved, the higher the cost of video production.
Not surprisingly, videographers with extensive experience who are well-established in the industry will charge more. Depending on the nature of your project, this experience can be well worth the investment. Knowing what you need and want in terms of experience and expertise will help you manage video production costs.
Video length and complexity are a major indicator of how much a video production project will cost. Longer videos take more time to film, need more time to edit, and often use more resources. A 60-minute employee onboarding video will naturally require more to produce than a 60-second explainer video about the company’s health insurance plan.
Where you are shooting the video also has an impact on video production rates. Are you shooting indoors or outside? Does filming require more than one location? Is there a need to travel between locations? Is the production company local or are you bringing one in from another city or state? The answers to these questions affect the amount of total time involved in producing your video, as well as the possible addition of travel expenses.
Adding custom motion graphics, animation, or other special effects, music, and so on also raises the video production costs. Discuss the deliverables you’re expecting with your video production company to make sure you are getting a comprehensive quote. A good company will be able to provide options at different pricing levels to meet your needs.
Looking for video production for your business? We’ve created hundreds of videos for clients of all sizes, always delivered on time and within budget. To get started, simply request a quote and we’ll get back to you within one business day. If you're not quite ready to reach out, explore our full range of video production services at Power Couch Productions to see how we can bring your vision to life.
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