What to Consider When Creating Your Video Production Budget

30 Jan 2017

Before you create your next video, you need to know how to create a video production budget. The cost of short video production can vary depending upon the length of your video, who your talent is, how elaborate or lavish you want your editing effects to be and other factors. It’s important to know what your corporate video production costs are and what you can afford to spend before you begin. Here’s a video production pricing guide to help you out.

Developing Your Video Production Costs Breakdown

You will want to start with a corporate video production costs budget template. There are already a number of Excel templates online for this purpose, and there is almost certainly one that will suit your needs. These templates make it easy to create your budget. Simply list all production items, their estimated costs and how much you can afford to spend, and the software does the math for you. You should break your video production costs down into three areas: pre-production costs, production costs and post-productions costs.

Pre-Production

Pre-production activities for your video include scriptwriting, which is the creating of the actual blueprint for your video, the actions your performers will take and the words they will say; storyboarding, which is a drawing of each scene to help guide production; and choosing your talent. If this is a corporate video and all activities are done by current, salaried employees of your company, pre-production costs will probably be negligible. If you are hiring professional actors, athletes, or stunt people, your pre-production recruitment costs will be higher.

Video Production

While you may have creatives in your organization who can write scripts, perform and storyboard, it is less likely you will have existing employees skilled in video production crew jobs like camera operating and audio production. In addition to hiring a crew, you will also have to rent equipment, as well as studio or on-site location. Other costs of production may include paying talent, craft services and travel expenses.

Post-Production

How much post-production fits into your video production costs estimate will depend on how elaborate you expect your editing to be. Post-production is where all the video and audio is put together to make a clean, polished, final product. Costs here will include budgeting for video editing hours, video editing software license fee, and paying for any graphics, animation, voiceover work or adding transcripts.

How to Develop Your Corporate Video Production Price Estimate

Rather than allotting a specific dollar amount to each line item and trying to make it add up, an easier way to approach your video production budget is to decide what percentage of your total budget you want to devote to each line item. Work out your individual costs that way.

Cost to Hire a Video Production Company in Oklahoma City

Naturally, there will be a cost to hire a video production company in Oklahoma City or any other location across the country, but many businesses say the cost is well worth the addition to the budget for the value they receive. In fact, because doing it yourself may cause you to overpay for certain video production budget line items, take on more costs than you need to or increase the budget for certain items due to errors, there’s a good chance that partnering with a video production company will save you money in your production budget.

More importantly, though, you get the assistance of experts who will make sure you end up with a quality product. There’s no point in creating a corporate video if it is ineffective or amateurish. In fact, this can do more harm than good. An obviously professional video guided by experts can do wonders for your business and be well worth the cost.

If you are making your video in the Oklahoma City area, contact NextThought Studios, Oklahoma’s premier full-service video production company. NextThought Studios can guide you through every phase of the production process, from pre-production to production to post-production.

NextThought Studios has scriptwriters, storyboarders, camera operators, studio space and equipment, video editing software and editors, 3D motion graphic animators – essentially, everything you need to make a highly professional and effective video. We can work with your budget and help you decide how to best allot your resources.

To find out more about how we can help you with your next production or to get a free quote on your job, contact us today

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NextThought Studios

NextThought Studios is a premiere Oklahoma City video production company. The NextThought team offers high-quality post-production services that create positive learning experiences for students, trainees, employees and more. Our varied video production services can help you create solutions that provide optimal information retention and skill acquisition. With expertise in everything from corporate video production to producing educational and learning videos, NextThought Studios can create a video experience to meet any client's needs.

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