How Much Does A Video Cost?
Updated in 2018
If you want to drive a video producer crazy – ask them how much a video costs to produce.
Video Costs: A Brief History
Despite changes in technology, professional video production costs have held fairly steady for the past 25 years. In 1990, a professional cameraperson with a basic camera package charged $1,200.00/day. That held steady until the advent of HD, when the figure jumped to $1,600.00/day. A soundperson in 1990 charged $500.00/day, today around $600.00. And those aren’t just Toronto numbers, they are consistent in major markets around the globe. Throw in a director, scripting, editing, graphics and audio mix and a video with a 2-day shoot would have cost roughly 25K in 1990. Today – that cost is pretty much the same.
The Technology Explosion
One of the huge drivers in the cost equation is the proliferation of “prosumer” cameras and digital editing technology. A young film school grad with 5K worth of gear can shoot (and rival) the quality of a professional crew using 150K worth of gear. It’s possible to find young producer who will write, shoot for a couple of days, and edit a video for 5K. The results can be spectacular, just check out any GoPro ad if you have any doubts.
Cost Considerations
So, if you are purely cost driven, why not go with the young film school grad? Interestingly, while many young producers and shooters can match and the quality of professional crews, they often have an Achilles heel: story. While young producers can wow you with cool Instagram feeds – constructing a concise and reasoned argument is a journalistic skill. We do a lot of not-for-profit work, for minimal budgets, and to do that we’ve gone with the young producer model – with one important difference, matching a young talented producer with an experienced producer, and often, the learning goes both ways.
So 5K, 25K or 250K?
By extension, a professional television crew isn’t going to deliver spectacular crane shots or aerial shots. If you want spectacular, you begin to move into specialized skills; found on commercial productions or movies. Those skills can be expensive, and can have a ripple effect. For example, if you are using a helicopter at a $1,000.00/hour, you might want a grip who knows a thing or two about working with helicopter mounts.
Our Approach
We’ve produced the 5K, the 25K and the 250K video and they’ve all had their own unique challenges and creative requirements. Asking how much a video costs is a valid question, but we challenge you to ask yourself and your team these fundamental questions before you begin a production:
• Why a video? What are you trying to communicate? And why do you think video is the best platform for that message?
• How does would this video fit in with your website, your presentation or your overall brand strategy? Would a quick and simple 5K video fit your brand, or do you need more of a professional look and feel?
• What is your distribution strategy? How are you going to actually get this video seen? If you can’t answer that, it doesn’t matter if you produce a 5K, a 25K or a 250K video – it’s a waste of money.
So how much does a video cost? Really, it can cost anything. You can shoot and post a video with your iPhone for as little as the cost of your time. Or you can spend 250K for a commercial. Both approaches have their place. It’s more a question of which approach fits your company, your strategy and your brand.
Still feeling lost? Give us a call at 416 361 5907, or email Caitie our VP of Content and she’ll walk you through costing out a video based on your needs.
