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Understanding the Cost of Video Production

Here we are! The 21st century; complete with flying cars and food in pill-form. The future may not be everything our forefathers had hoped, but one major advancement is the employment and use of videos and video production in our modern world. We see them everywhere and in everything we do. From the entertainment we seek, in the forms of teaching we utilize, as well as in the competitive market of advertising.

But how much does it all cost? Is it worth it to invest in any sort of film production at a decrease to profits as a whole? Let us break down the general expenses to expect when financing video manufacture as well as the comparison between one option to another.

First and foremost, it is important to value quality over quantity. There is no harm in seeking a happy medium, but there is never a good reason to accept a substandard product just because it costs half of the price of a superior result.

With the creation of the internet comes the development of options. Every single day hundreds of billions of hours of video content are uploaded online. Although much of it is substandard and amateur in nature, it does create a need to stand out and distinguish one’s own message from the millions of others out there.

Without grabbing a camera and venturing out alone, managing to stand out does come at a cost. Here is what to expect when weighing price over performance and pre-determined worth.

Your first step is to choose: hire a vetted production company or a talented freelancer? Where each has its own unique pros and cons, the selection comes down to what fits your specific needs and where your budget lies. In regard to brands and wanting to make a statement with the videos they produce and advertise with, there are thankfully some statistics to convince even the most frugal company to ultimately invest in quality.

Sixty-two percent of viewers garner a negative perception of a business after watching a poor-quality video that the brand has published. Accompany that with the sixty percent of people unlikely to share, promote, or engage with the label in any way, and you have yourself a marketing team’s worst nightmare!

When beginning to shop around and gather price quotes, you must consider the following factors in video creation. The expected duration of the film, all pre-production fees, hiring a crew, time to create and daily rates, travel expenses for staff, amount of equipment, and post-production costs.

If you want to save, invest in a freelancer. They do not attach themselves to larger professional bodies that input set prices and rules, leaving them open to negotiations and general flexibility. At the same time, this does require a bit of know-how on your part. If you are not willing to make your own house a set or brush up on your creative writing to produce the script yourself, hiring a freelancer may not be the best choice for you.

However, if you are concerned about the dependability of a standalone freelancer, or you simply cannot trust in your own merit, opt for the professional and commercial touch. A fully-fledged production company may cost more but are usually well-vetted and trustworthy in their product and performance. After all, when it comes to price, it's usually representative of a reliable brand that is already doing something right.


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