How much does it cost to make a video? Well, it isn’t cheap. This is easily the question we hear the most from potential clients. You’ve got an awesome idea for promoting your business or product but figuring out the budget or where to start is tough. Unfortunately, most video production companies give you a price range that’s so broad it hardly helps at all.
Put at least $7k in your budget.
For us, a typical 2-minute corporate video runs about $7,000. There’s a range, of course, and we’ll detail the usual types of videos below. Expect to pay a bit more depending on specifics, but generally, you’ll want at least $7,000 in your marketing budget for video production.
The main factors that affect video production costs include the length of the video, how many cameras you’ll need, where you’re shooting, how many interviews you’re doing, whether you’re hiring professional actors or voiceover artists, whether you’re going for live-action or animation, and how many hours you’ll spend editing.
Here are the types of corporate videos that people ask for the most, and how those key factors play into the overall cost.
Explainer Video: range $6k-$12k
An explainer video is just a way to show your customers how to use your product or service. These videos usually feature some animation, on-screen graphics, and a professional voice-over. A standard 2-minute explainer video with 2D animation starts at $6k. If you mix in some live action, go for a longer video, or opt for more sophisticated animation, then your costs will rise. This style of video was big a few years ago but has since fallen off.
Talking Heads: range $5k-10k
We know, “talking heads” isn’t the catchiest name, but it gets the point across. These videos are straightforward—it’s just people talking. Typically, they feature interviews with executives or experts discussing new products or the direction of the company. The cost depends on how many people are speaking, where you’re filming, and how many cameras are used. For a basic executive interview with one speaker and two cameras, prices start at $5k. This style of video might also include testimonial videos.
Commercials: range $15k-$500k
How much does it cost to make a commercial? Well, pinning down a price can be tricky, and here’s why: commercials vary widely, from those awkward cable TV spots to ones that could pass for Oscar-nominated shorts. They need to stir emotions and weave a compelling narrative about your brand, factoring in the length, professional talent, scripting, cameras, sophisticated editing, and the target audience.
Costs can skyrocket if you’re aiming for a broad audience with a national commercial. These usually demand top-notch locations, art direction, and camera gear. Hiring professional actors and voice-over artists costs more, especially for national spots. Don’t forget, the size of your crew also bumps up the budget, including everyone from makeup artists to camera assistants.
So, what should you budget for a commercial? As a general guideline, set aside at least $7,000 for a local ad and start at $30,000 for a national one, with the potential to climb to $200,000 or more depending on the production’s scale and quality.
Documentary style Brand video: range $10,000-$150,000
Documentary-style brand videos usually feature interviews with employees, summaries of products, extra footage (b-roll), and stories about the company’s impact on the community and its evolution. Like commercials, the style choices vary widely, making it tough to nail down an exact cost. For a 5-minute corporate documentary, you should plan to start with a budget of at least $10,000.
Social Media and Micro-Content Video: range $2,500-$10,000
Micro-content videos are essentially shorter versions of regular videos, typically lasting from a few seconds up to 30 seconds—though shorter often works best. You might see these micro-videos anywhere from YouTube pre-roll ads to the latest social media platforms. Remember, the term ‘micro’ refers to the video’s duration, not its format or platform.
As for where you can post these micro-videos, they’re pretty versatile. While you can technically share them on any platform, some social media sites are especially geared towards short-form content. Platforms like Facebook, Instagram, TikTok, Snapchat, and LinkedIn are ideal for these quick clips.
Video marketing is a powerful method for communicating your brand message and your product, particularly now that more people are home and online video consumption is on the rise. Videos should be in your yearly marketing mix and getting started shouldn’t be daunting or include sticker shock. We’ve given you video production costs and numbers to help you with budgets and to prevent unnecessary heart palpitations for new marketers looking to pitch video marketing to their executive team. Don’t forget to ask about retainer programs.
Remember these are estimates only
To set a proper budget, you need to completely outline your project and decide on a creative direction. When you’re ready to make your first video and start comparing video production companies, don’t just focus on the cost. Remember, cheaper isn’t always better. Be sure to inquire about what’s included in their services, look over their previous projects, read reviews from their past clients, and don’t hesitate to ask plenty of questions.
“In this world, you get what you pay for”
— Kurt Vonnegut