Published October 09, 2012 by Mac Chorlton
There is a very good article in the most recent issue of InBusiness Magazine about “The Online Video Phenomenon.” The article does a nice job presenting the emergence of online video as a powerful marketing tool as well as providing businesses with some things to consider if they are thinking about creating video content for their website. In this blog posting, I wanted to touch on one of the topics in the article where they discuss the cost of producing an on-line video: “Overall, the cost of producing videos in high definition can range from $500 per finished minute to $3,000 and up per finished minute, depending on variables like talent, length of the shoot, and complexity of the editing.” Obviously, that’s quite a broad range, and there are some production companies that provide a “one-size-fits-all” approach with fixed rates for production. However, here at Tweedee productions, we estimate each project on an individual basis, because as we’ve quoted in previous blog postings: “Paying for a produced video by the minute is like paying for a car by the pound. There are just too many variables that make that equation unrealistic for most productions…”
So when we initiate a project with a client, we like to have a conversation with them to get a better idea about the scope of the project. This allows us to figure out the time and resources we need to commit to that project and provide an accurate estimate. Usually, a client will have a fairly good idea of how long they want their video to be. But collaborating with our clients to establish a project outline and develop a budget is an important initial step because many factors aside from the length of the video (i.e. the need for music, graphics, voice over, etc.) can influence the cost of video production. So getting these variables worked out in the planning and scripting phase will help ensure that everything runs smoothly as the production process moves forward. We believe it benefits both parties to stay within the scope of any video project. Our client gets the video they want and we stay within the scope of the project budget. I hope you find the InBusiness article helpful too if you are considering online video for your company.