25 Factors That Affect Corporate Video Production Costs

十月 1, 2012 by  Filed under: Video 
 

Web based corporate videos are an excellent way to increase brand awareness for a variety of companies. The good news is that today corporations of nearly any size and with just about any budget can produce quality corporate videos. In fact, in its most basic form corporate video production can be essentially free. Through the use of the Internet and simple inexpensive camera technology an individual can organize, shoot, edit and upload a corporate video in a matter of minutes. Conversely, the cost of full-blown corporate productions can easily climb into the millions of dollars.

Corporate professionals should be encouraged by the ever-decreasing cost of film production. As technology continues to advance the cost of producing a corporate video will continue to decrease. With this in mind there are indeed at least 25 factors that currently affect the price of corporate style video production. We will consider these factors here and offer an opportunity for corporate professionals to better judge anticipated costs associated with corporate video productions that are intended for web audiences.

1. Cost of Actors

Carefully considering who will represent your corporation in a web video is key to overall cost. To realize substantial savings in video production companies should consider using a real company employee for video production. Professional actors can easily cost well into the thousands of dollars to hire.

2. Script Writing

Having a script for a web video simply means having a good plan. Those within the corporation closest to its products or services will sometimes produce the best script material. One cost-cutting approach to script development is to contract the work out via online crowd sourcing or freelance writers.

3. Cost of Editing

The editing process is where a web video really comes together. Often times the quality of a video can be determined by the quality of editing. With advanced software such as Apple’s Final CutPro, individuals within a corporation can easily produce top quality editing. In maintaining an awareness of costs it should be important to note that professional editors can earn upwards of $200 per hour for their services.

4. Professional Production Company

A key factor in determining the overall cost of a web video is deciding whether or not to incorporate the services of a professional production company. The cost of professional production can range anywhere from $50 per hour to well over $300 per hour. Consider keeping production in-house to keep costs at a minimum.

5. Camera Quality

Camera quality plays a large role in the total cost of a web video production. Cameras can range from a few hundred dollars to easily over $50,000. A good digital HD camera will average around $10,000. In this instance quality is often proportional to cost. Striking a happy medium between quality and costs in this case will help to control the cost of production.

6. Support Crew

Depending on the size and scope of a video production there will be a requirement for some type of support crew. Very simple one-man productions will certainly keep costs at a minimum. On the other hand, full-scale professional type productions will require several support crew members.Corporations can expect to pay on average around $50 per hour for each support member.

7. Tools and Equipment

Equipment such as microphones, lens, booms, and various types of lighting equipment all factor into the total cost of a video production. Costs for tools and equipment range from $20 per hour to easily over $100 per hour to lease.

8. Shooting on Location

This is a highly variable factor in the overall cost of a web video production. Certainly shooting on-site at corporate headquarters will keep this cost at virtually zero. On the other hand, shooting at unique outdoor locations or other indoor locations can easily cause the cost of production to quickly escalate.

9. The Cost of Props

When a web video production requires the use of props or unique equipment or vehicles this can certainly have an impact on the overall cost of a corporation’s production.

10. Studio Rental

When a corporation’s web video production requires a studio or soundstage for certain audio requirements such as musical scores, this will certainly impact production costs. Other considerations include the use of green screen facilities for certain special effects. Studios can range in cost from under $100 per hour to easily around $500 per hour.

11. Additional Footage or B-Roll

B-Roll footage is simply footage that is in addition to the primary actor footage and is often used to enhance the quality of a film. B-Roll costs are variable and can cost anywhere from a few hundred dollars to well over several thousand dollars.

12. On-location Variances

Where a film is shot can have a large impact on the expense of production. For example, shooting in a small rural area will be far less expensive than shooting in a large metropolitan city. Consider location when calculating the cost of a Corporation’s web video production.

13. Stock Footage

Purchasing stock footage and images can enhance the quality of a video and reduce the cost of filming. Search online for a variety of stock footage providers to compare costs.

14. Audio Files

Another consideration when determining costs related to corporate video production is audio. Supplemental audio or sound effects can incur minimal additional costs or can easily reach into the thousands of dollars.

15. Cost of Narration

Narration can add a professional tone to your production, but can also add to the overall cost of the production. Consider the benefits of narration and the cost involved which can range anywhere from a few hundred dollars to over several thousand dollars.

17. Cost of a Teleprompter

The cost of a teleprompter can easily average around $500 per day. The upside of using a teleprompter is that it can reduce the overall cost of filming by improving on actor efficiency. Less “takes” means more overall savings for the corporation.

18. Video Length

Typically the cost of the video is directly proportional to its length. As would be expected shorter videos will be more cost-effective for corporations. The good news is that the trend is towards shorter to-the-point videos these days.

19. Film Handling

Once a film has been shot it is far from complete. Film production requires digital services, the rendering of film, as well as the uploading of video files. These services can vary in cost and should be considered when looking at the overall cost of a web video production.

20. Royalty Fees and Licensing

Always consider the costs involved with royalty fees and licensing fees such as union related costs when calculating the overall cost of a corporate video production.

21. Agency Cost

The cost of video production can be reduced by working directly with a production company as opposed to an intermediate or third party agency.

22. Video Hosting

An online web video production requires some type of hosting to store the video files. The good news is that when incorporating services such as YouTube into your production the cost is essentially zero. Other hosting services are available and the cost is usually minimal.

23. Variations in Language

Consider the cost of language translation and closed captioning when determining overall costs of a corporate video production. Much of this type work can be done in the editing phase of the production.

24. Technology and Formatting

Consider how your finished product will be formatted. The requirement for international distribution and other factors will determine the types of formatting required. Offering a wide range of formats in the finished product can add to overall cost of production.

25. Petty Cash

All other costs such as permits, food, transportation, and legal fees can be included in the petty cash fund. Depending on the size of production this fund can be a few hundred dollars or easily tens of thousands of dollars.

Conclusion

Consider these 25 key factors when determining what the overall total dollar amount of a web video production for a corporation will ultimately be. As is noted here there are a wide range of variables when determining or estimating the overall cost of a corporate web video production. Technology and the Internet have greatly reduced the cost of nearly all of the factors that have been discussed here. Keeping this in mind it is easy to see how a corporate video could easily be produced for nearly nothing. Conversely, taking all these factors into account it is also easy to see that a full-blown major corporate video production could range into hundreds of thousands of dollars. Cost aside, one thing is certain when it comes to a web video production, and that is that having a web presence for a corporation is critical to success in today’s business world. Asking the question what does a corporate web video cost can only be answered by each individual corporation based on their specific needs and desires.

If you’re looking for a corporate video production company in New York City, then consider SK Media Group, which specializes in corporate video production for small to large businesses in New York, Washington DC, Northern Virginia, and Baltimore, Maryland

Article Source:
http://EzineArticles.com/?expert=Saidul_Hoque_Pavel

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