Thursday, 26 April 2012

Cost of Video Production

How much would be the cost of video production? This question is as difficult to answer as answering, how much would a wedding cost? The answer will begin with a series of it depends on … the theme you choose, the place you wish to get married at, the kind of food spread, the entertainment you choose, the sort of dress you want etc.
Similarly giving a note on how much a video ad will cost depends on a variety of factors. These factors are who your audience is , the level of production value they expect and crucially the money you are willing to spend. The kind of video needed for a one time introduction as opposed to a global product launch calls for a completely different game plan and budget.
The best way to get an estimate is talking to us, we help you underline your goals, broadcast your vision and achieve value for every penny you spend. Now to get an idea of the mathematics involved let’s look at the cost parameters one by one.
Costs vary if you hire Steven Spielberg to direct the video or the guy around the block. The bottom line is directors and editors are paid for their experience and expertise in their area. So talent costs. Generally production companies charge between $50 an hour to $150 depending on the experience of the key people involved in the shoot.
Content or the script as we call storyboarding is that which adds value to the video ad. It does not make sense if you spend a fortune to get the Seven Wonders of the World in frames if they are meaningless in context of your video.You may develop the story idea yourself or may approach the in house scriptwriter, you may also opt for an entertainment script writer, and the cost would vary in the range of $50 to $125 an hour for the development of the concept for the video.
You can add anywhere in the range of  $40 to $150 to the price of video ad for an experienced editor who would put the frames together for a compelling story that builds your brand image.
Next comes the actors, presenters or the models that are centre of the video shoot. Add another $50 to $500, depending on the experience and demand of the artists hired for the video.
The location of the video shoot: single or multiple, the duration of the outdoor shoot, transportation costs all comes to a lengthy calculation. Then there may be contingencies like rain which have to be accounted for.
The quality of the camera used makes a huge impact on the cost of video the production. In technically advanced and cinema savvy world today, wherein we demand HD telecast, the cost of video escalates naturally. Expect to spend anywhere between $25 to $250 for camera rentals along with the camera there is also stock and lenses, lights, mikes etc. Equipments cost may be charged per day or per hour.
Adapting the video in different video formats depending on your requirement also adds to the cost of video production by about 10 -15%. Editing and subtitling the video in different languages is intensive work and adds about 10% more to the cost of a video ad.
The length and time of the video shoot is a deciding factor of the cost, so to make a general estimate we may say that the cost of video is around $1000 per minute of finished video. At times if the company has a rich stock footage you may make do with that and not necessarily need a video shoot. The stock footage price may vary somewhere between $5 to $50.
Just choosing a company on the basis of their guessing your budget line right is not a smart decision share the budget you have in mind with the company, if you already have an idea as to how you want the video to be or a concept in that you wish to emulate share it with the production house and be open to the alternatives suggested.
Sometimes what is cheap needn’t be the best.
We at Armaan offer customizing, so whatever the budget constraints of the project we offer the best in the segment without compromising on quality.

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