Due to the large number of variables, your video could cost roughly from $500 to $3,000 per finished minute.
Well, that’s quite a range. How do you get closer to the lower number? There are 3 ways to save, they are: 1) plan, 2) organize and 3) plan some more.
Pre Production planning is the key to a successful video, both in accurately telling your story to achieve your goals, and to get the best price. A disorganized production day will increase both production and editing time.
A. What existing content can be used in the new video?
1) Old video footage
2) Photos
3) Graphics
B. Major cost factors
1) Script writing; $1200 – $1800
2) Talent, on-camera or voice; Starting at $350 for 2 hours
3) Music (if not royalty free); Starting at $50
4) Motion graphics; Starting at $250
5) Green screen; Starting at $350
6) Teleprompter; 1/2 day – $375, Full day – $550
7) Sound Mixer; Full day $450
The first step for most companies is to get a “No Frills” video on their web site. This could be a 1 – 2 minute video of the CEO speaking to clients or employees. The production would consist of one hour to setup lights and mics, and 30 – 60 minutes with the CEO for as many takes as is necessary. The edit session would be 2 -3 hours for logging, editing, adding a few graphics (supplied by client) and to output for the web. Total cost is around $975.
A basic video where the client (you) provides the script and on-camera talent would cost about $2,500 – $8,000. This would include a few of the “Major cost factors” from above. Most corporate videos with hired talent and motion graphics would cost $8,000 – $20,000. This may involve 2 or more days of production and 5 days of editing. The first client consultation is free. Subsequent meetings go into pre production costs.
You can view and print out my video production checklist here. I will be asking these questions in our first meeting to estimate the cost of your production.