June 22, 2023 | Gabe Roy

From Big Budget Advertising to Small Business Videography

Surfing Google for “video production companies near me” hoping to find the exact listed price to produce a video likely won’t yield any noteworthy results. Unless you have previous experience working in the production world, determining the cost of bespoke creative services like professional video production from the outside can be a challenge. 

Understandably, this can be frustrating. You might be thinking: “Why can’t companies just tell us how much they charge?” Well, in short; each project requires a different level of time and resources to execute. Without taking the time to submit a request for a quote directly, at best, these companies can give you a range based on their previous client work.

So perhaps you’ve found yourself in this situation - searching for the answer to the question: “how much does video production cost?” Maybe you’re the owner/operator of a small business in Vancouver and you’re curious about what sort of investment you’ll need to make to produce a brand story video. Possibly you’re the brand manager at an ad agency - working with a pre-approved client budget to develop an ad campaign for a car company and you’re curious how far that money could go. 

Video marketing is an investment that can yield huge returns

Keep in mind that well-established brands (such as car companies) with big budgets can easily justify spending $250,000 or more for on a single project - knowing that it will simply help drive millions of dollars in sales. No matter if your budget is $5,000 or $500,000, that same strategic approach is key to success. Don’t be intimidated by the big numbers you’re about to read. At any budget scale, a strategic video production company can help you turn your investment into one that yields results for your business! In fact, a whopping 92% of marketers report seeing a positive ROI on their video marketing efforts.

Corporate video production vs. commercial video production

Whatever your budget may be be, we’ll aim to shine some light on the expected current cost to produce a video in 2023. We’ll examine two ends of the cost spectrum and demystify the factors that differentiate a $5,000 corporate video from a $250,000 + commercial video. By the end, you should have a better understanding of what to budget for your next video project. 

To illustrate the range in prices for video production, let’s build out a hypothetical budget for both a corporate interview video and a cinematic, narrative car commercial.

Example 1: Corporate Testimonial Video

Let’s use this Hireology company culture video a reference point for what a “Corporate Video” might look like. 

Example 2: Narrative Car Commercial

We’ll use this Hyundai commercial that was filmed in Vancouver as an example of a “Narrative Car Commercial”. 

1. The Project Scope

At what point of the project is the video production agency expected to be involved?

There is a bit of nuance involved when determining the scope and scale of a project. The level of creative involvement across the various stages of production is a major contributing factor. 

For instance, it’s not uncommon for a brand - especially with creative commercial projects - to first hire a branding agency or ad agency to determine the overall messaging and creative direction of a campaign video. After the concept is developed and approved by the client, this agency will then collaborate with a trusted production company to bring this idea to fruition.

Other times video production clients have their own in-house marketing that handles creative development internally. Most commonly, however, a business will rely on the video production company solely to present creative ideas to the team, as well as handle production from concept to delivery.

To give you a sense of how different each case may be, here are some common scenarios that we see: 

2. The Creative Concept

How big is the idea?

Determining the overall cost of a video production project heavily relies on the main concept, type of video and idea behind it. The main concept and idea act as the foundation upon which the entire project is built. It sets the tone, style, and complexity of the video, all of which directly impact production costs.

A simple and straightforward concept may require fewer resources, a smaller cast and crew, and minimal post-production work, resulting in a lower overall cost. Conversely, a complex and ambitious concept may demand a larger production team, higher-end equipment, specialized locations, and extensive post-production editing, thus increasing the cost. Therefore, the main concept and idea of a video project play a crucial role in determining its overall cost, as they guide the scope and level of production required to bring the vision to life.

Some common types of projects handled by video production companies are: 

• Narrative commercials

• Brand story videos

• Corporate videos

• Customer testimonials

• Product videos

• Internal corporate communications

• Branded documentaries

• Concert and event videography

• Training videos

• Company culture videos

3. Pre-Production Planning

How much planning needs to be done before filming can begin?

The quality and effectiveness of a video relies on thorough pre-production planning. To ensure a smooth filming process, a reliable video production company will make sure that every aspect of the project is positioned for success before any filming begins. The amount of time, effort and number of people required in this process is determined by the scope and concept of the project.

Pre-production will commonly involve steps like:

• Storyboarding and treatment development

• Storyboarding is a visual representation of a video production, presenting a sequence of illustrations or images that depict the key scenes, actions, and camera angles.

• With a treatment, the goal is to establish a visual representation of the video to ensure all involved are working from a shared vision. This includes visual references such as color palettes, camera angles and general aesthetic.

• Scriptwriting

• Writing the script and/or preparing questions for interviews.

• Casting

• Casting may involve finding suitable primary actors, background actors, and/or voiceover artists. 

• Location scouting

• Finding suitable locations to film the video. Sometimes shoots will take place across various locations and require travel arrangements.

• Scheduling

• Creating a schedule for the project execution:

• When will each stage of the filming process take place? 

• How long will set-up take? 

• Are we filming outside? If so, what time is the best natural lighting?

• How long will it take to travel to the location? 

• How much food will we need to order for the crew?

• Production crew

• Bringing on the right crew to execute the job. For example, perhaps the project calls for an aerial establishing shot. Therefore we’ll need to have a certified drone pilot on site.

Pre-Production Budget Example

*Figures are estimates for illustrative purposes

4. Production Crew

How many people need to be involved? And, for how many days?

The size and expertise of the production crew are another element that affects the cost of your video project. Video production companies are responsible for hiring ideal professionals like directors, cinematographers, camera operators, sound engineers, lighting technicians, and production assistants to execute the project within budget and effectively.

Depending on the scope of your project, various roles will need to be filled. While smaller projects will only require a crew of about 2-5 people, large commercials easily may need more than 20 crew members to pull off a job. More complex jobs also will require a more specialized crew - generally coming at a higher day rate than someone required for a corporate interview shoot.

Depending on the project and the expertise of each crew member, video production companies can expect to pay a day rate for each member of the crew.

Average video production crew day rates in 2023 (non-union):

*Figures are estimates for illustrative purposes

Production Budget Example

5. Equipment and Technology

How much gear is needed?

The type and quality of equipment used in video production will also influence the cost. Selecting between high-end cameras, lenses, lighting setups, audio recording equipment, and specialized gear are all decisions that need to be made that will impact the price tag.

Most video production companies will own a full kit of equipment suitable for the majority of projects requested by clients. To account for the cost of owning this equipment, as well as the wear-and-tear, the production company will generally include the cost to rent it out in the quote at a discounted rate compared to rental houses. For example a video production company may include a gear rental fee of 5-7% of the total cost of the equipment for its use. Whereas a camera rental house will generally charge 8-12% of the total value.

For style-specific and large-budget projects where achieving a particular aesthetic is required, equipment may have to be sourced from a rental house. Specialized items, such as anamorphic lenses, camera cars and jibs are generally not kept on hand by a production company.

To illustrate the range, here are some realistic sample equipment budgets:

Gear Rental Budget Example

*Figures are estimates for illustrative purposes

6. Talent and Actors

Will we need to hire actors or any other talent?

When it comes to video production projects, the need to hire talent and actors can have a significant impact on the overall budget. Hiring experienced actors adds a level of professionalism and authenticity to the final product, making it more engaging for the audience. However, the cost of hiring talent can vary greatly depending on factors such as their fame, experience, and demand.

A-list actors, for instance, may demand higher fees that can significantly increase the production budget. On the other hand, for corporate videos, the need for talent is often less pronounced. In these cases, a voice-over actor is typically the preferred choice to narrate the video, as it delivers the necessary information without requiring costly on-screen performances. Voice-over talent tends to be more affordable in comparison, making it a more cost-effective option for corporate video production.

Talent Budget Example

*Figures are estimates for illustrative purposes

7. Location and Set Design:

Where are we going to film the video?

Shooting in specific locations or building custom sets can affect the overall cost. Renting or securing permits for unique or exclusive locations may come at a premium, while using existing spaces can be more cost-effective.

For corporate videography, it’s most common that the interview portion of the filming will take place at the clients’ offices. Not only is this most cost effective, but generally makes the most sense considering its a true reflection of where where the company conducts business. However, sometimes when an office isn’t suitable, a studio can be rented. If B roll is required, that will often take place at several additional locations for the corporate project. However, this generally won’t require much set design.

For large productions, such as our car commercial scenario, filming will likely take place across several different locations - requiring travelling with crew and gear, set-building, setup and tearing down several times. On top of this, there are certain permits and permissions required from municipalities for projects of this scale.

Location Budget Example

*Figures are estimates for illustrative purposes

8. Post-Production and Editing

The post-production process in video production is a crucial phase that adds the final touches to a project, ensuring it is polished and ready for its intended audience. However, the scope and intricacy of this process can vary significantly depending on the nature of the video project.

In the case of our corporate video scenario, the post-production process primarily focuses on refining the footage, enhancing the audio quality, and adding appropriate graphics or text overlays. The goal is to present a clear and concise message that aligns with the company's branding and overall messaging.

On the other hand, a large narrative car commercial demands a more extensive post-production undertaking. This includes creating visually stunning graphics, implementing advanced visual effects, editing multiple takes to craft a compelling storyline, and integrating a captivating sound design. The aim is not only to showcase the product but also to engage the audience emotionally. The scale and complexity will require more hands on the project

Post-production will commonly involve steps like:

• Assembly and editing

• Editing is a crucial process in video production that involves assembling, organizing, and manipulating different video clips and audio elements to create a cohesive and engaging final product.

• Color correction and color grading

• Color correction involves modifying various aspects such as brightness, contrast, saturation, and hue to correct any color imbalances and ensure consistency throughout the footage.

• Color grading is the process used to enhance or alter the colors and tones of an image or video - giving the project a particular feel.

• Audio mixing and mastering

• This stage ensures that all audio elements, including dialogue, background music, sound effects, and ambient noise, are balanced properly and seamlessly integrated into the video.

• Sound design

• Through sound design, soundtracks can be crafted to evoke specific emotions, reflect character traits, and enhance the narrative structure of the video.

• Music and licensing

  • The process of finding, composing and/or licensing music tracks to use in the final video.

• Graphic animation and VFX

  • Graphic animation refers to the creation of moving visual elements, such as typography, illustrations, and symbols, using computer software and techniques.

  • VFX involves the integration of computer-generated imagery (CGI) into live-action footage to create stunning visual elements and enhance the overall cinematic experience. Generally this is reserved for big budget projects, such as a auto commercial.

Post-Production Budget Example

*Figures are estimates for illustrative purposes

The cost of video production has an extreme range

As explored in the blog, the price of a video production project can vary significantly based on factors such as the scope of the project, the level of expertise required, the equipment and resources involved, and the desired quality and complexity of the final product.

From a corporate video project that requires a more streamlined approach to a large-scale commercial project with elaborate sets and post-production effects, there is a wide range. It is important to understand that video production is a customized service that caters to individual needs, and as such, pricing is tailored to meet these unique requirements. By considering these variables, you can make informed decisions and find the right balance between cost, creativity and quality for your video production needs.

In this hypothetical scenario:

• The cinematic narrative car commercial could cost any where between $139,000 and $360,000.

• Our corporate interview-style video project on the other hand saw a price range of $5,800 and $15,100.

How do I get the most accurate video production quote?

Before reaching out to a video production company for a quote, consider what your maximum budget is for the project. For instance, let’s say you have a maximum budget of $10,000 approved from your marketing director. The next thing to do is, have a clear understanding of the goals and objectives of the video.

Ask yourself and/or your team things like:

• What’s the video’s purpose: attract new recruits? inspire investors? drive new sales? general brand awareness?

• Do we want to film at a location we already have, or should we budget for a studio?

• When do we need the video delivered by?

• When is the best time to film the video?

• What does success look like to my business?

• Do we have the capacity/knowledge to distribute this content in-house? Or, do we need video marketing help?

Having the answer to questions like this will help a producer provide valuable solutions to your situation, and give you the most accurate quote for your project.

Need a bit of a professional advice?

At Zest Media Productions, we’re a Vancouver video production company who specializes in story-driven video marketing that drives measurable results for businesses and brands.

If you’re curious about how professional video content could elevate your online brand, I’m happy to offer a free video 30-minute consultation call to discuss your goals, budget and objectives. I’ve worked with hundreds of brands across Canada, and can help you discover a tailored solution for your communications needs.

Learn more about video marketing below