The Factors Affecting Video Production Budget

Back in the day, professional videos are expensive to produce. The production itself, shooting and editing all entail specialization, the right kinds of equipment and expertise. These days, there are more options. There are now low-cost DIY blogs for video production as well as the more polished corporate synopsis. Advances in technology, fortunately, have made professional videography much more affordable. Sure, you still get what you pay for…generally,  but with so many choices, quality product is now within your means.

Online Video Cost

So the first question that is probably brewing in your mind right now is how much would professional video production services cost? Before the cost, it would be much more important to answer why you would want to have the video produced in the first place. How would you use the video? The uses and benefits are now becoming more self-evident as more and more businesses realize the importance of online videos.

You have to realize that there are certain factors that affect the cost of online videos. First, there’s time. Time is, of course, spent on pre-production, scriptwriting, scouting for a location, actual shooting, special effects, editing, and the final production stuff.

Adding more team members will also increase the time that is spent on the project. All these factors are eventually reflected on budget decisions, no matter how big or small.

Another factor that affects online video cost is talent. The more professionals that you ask to join you onboard, then you get to spend more.

High-end tools or equipment could also add up to the total cost. While anyone can now produce a video with the use of a basic cell phone with camera, still, sophistication only becomes possible with high-end equipment and lighting kits. Add to these the experts that can operate these sophisticated equipment and gadgets and you have a good pile of costs to take care of.

The Five Online Video Cost and Quality Levels

The first level is amateur where everything is done by following DIY instructions. Self-taught talent can be great if you want something that is quick and inexpensive. This is also okay for personal blogs and internal training only.

The second level is the semi-pro where someone who has some training or experience can shoot with sophisticated tools. With a little video editing on the side, this is the level where hobbyists and wedding videographers are categorized.

A 2-3 minute video in this category costs approximately $200 to $750.

The third level is the professional level where you would be working with a professional team. The best use for this is with profiles, case studies, and recruitment videos.

Professional videos cost anywhere from $1,000 to $3,000 USD.

Premium level videos cost about $5,000 to $50,000 depending on the wow factor or the compelling content that is being presented. This is that stand out piece that you’re looking for. It is best for case studies and service introductions.

The last level is the Hollywood level, the highest level, which is most suitable for global companies. Prepare no less than $100,000 USD even up to a million dollars to get the high-end advertising that you believe your company deserves.