How Much Does a Video Production Cost?

Got an idea for an advert or some social media content, but have no idea how much video production costs? Depending on where you are in the country and the type of video production you want to invest in, the cost of commercial videos can vary massively, with hidden or unforeseen costs often pushing the production beyond your budget.

As a Yorkshire-based video production company, our approach to filmmaking and financing is pretty straightforward at Reel Film, but we can appreciate how daunting it can be for the uninitiated. With that in mind, we have put together this guide to video production costs to give you an idea of how much dosh you need to get the job done.

Which Type of Video Production Costs the Most?

When you are estimating the cost of your video production, the first thing you need to consider is the type of production that would be best suited to your business or its latest campaign. Depending on the scale of your video, the number of videos you want and how frequently you need them to be produced, there are various types of video production that your company could consider.

• Freelance Videographers

For simple videos and standalone projects, employing the services of a freelance videographer would be the most cost-effective option for your business. Unless your chosen videographer intends on involving any additional crew on the project, the only cost you need to consider is their daily rate. 

However, with reduced costs comes increased responsibility. While freelance videographers will provide their own equipment and edit the footage once production has wrapped, the planning, scripting and scouting any locations or actors involved in the video production will fall to you. It is important to note that freelance videographers tend to have their own style of shooting and editing, which might not necessarily reflect your business or brand.

• In-House Videographers

Having your own in-house videographer is only really necessary if your company is in constant need of new video content. The obvious benefit of keeping video production in-house is that you can achieve a greater level of consistency from one project to the next, while reusing assets to similarly cut down costs. 

With an annual salary between £28,000 and £39,000 depending on experience, the value of an in-house videographer will come down to whether their output surpasses the quantity and quality of videos you could commission from a production company. Keep in mind that your company would have to acquire equipment and editing software, as well as sourcing locations or actors, which would add to the cost of video production.

• Video Production Companies

While working with a video production company may not be your cheapest option, it gives you the most options for your video project, not to mention access to experienced filmmakers, specialist equipment and any actors associated with the company. In addition to taking care of filming and editing your video, many video production companies include planning, scripting and storyboarding services to their clients, as well as helping them to upload or distribute the completed project. 

Depending on the payment structure of the video production company, you may have to cover the hourly rate of each crew member and their equipment, in which case the cost of video production will be dictated by its complexity. However, many video production companies offer package deals for certain styles or numbers of videos, which can be more cost-effective. 

Breakdown of Video Production Costs

Before we start breaking down the costs of video production, we have included an outline of the main expenses associated with employing freelance or in-house videographers, as well as a video production company. Please keep in mind that these figures are based on the average UK rates and do not necessarily reflect Reel Film’s prices. 

Type of Video Production

What it costs

Freelance Videographer

Production:

£250 – £800 per day

Editing:

£150 – £600 per day

Actor hire:

£120 – £350 per day

In-House Videographer

Annual salary:

£28,000 – £39,000 per year

Equipment rental:

£600 – £900

Camera crew hire:

£500 – £2,500 per day

Video Production Company

Per project:

£2,000 – £5,000 for short to medium length videos

£10,000+ for longer videos or more premium services

• Pre-Production Costs

Depending on the style and scope of your project, there are many pre-production costs that you may need to factor into your budget. Unless you have your sights set on a documentary video, or you want to record an upcoming event hosted by your company, you need to consider the cost of commissioning scriptwriters, whose rates could range between £500 and £2,000 depending on the length and number of scripts, as well as storyboard artists, who could charge upwards of £1,000 depending on whether you request any revisions.

Casting actors in your video project can quickly increase the cost of your video production, with day rates between £120 and £350 depending on where you are in the country, while location scouting and hire can be very expensive when you factor in the cost of travel and any necessary permits. 

While casting your employees and using your own site is an easy way to keep costs down, you have to consider whether this compromise would be to the detriment of your project. 

• Production Costs

Whether you are capturing intense action shots with drone videography or creating fantasy worlds in your animated video project, the bulk of your video production costs will come from the production stage. From directors and camera operators, lighting and sound technicians, to costume, hair and makeup stylists, the size of your production will dictate the number of crew members you need to hire and the duration of their contracts.

In addition to covering crew salaries, which could total between £500 and £3,000 per day, you may need to factor in the cost of renting the requisite film equipment. While many professionals work with their own equipment, you may have to pay an additional £250 to £2,000 in rental fees, with this cost increasing relative to the quantity and quality of equipment you choose.

No matter how much time and planning goes into your project, it is important to remember that unexpected challenges can delay production. From bad weather to illness or injuries on set, any number of obstacles can bring shooting to a standstill, extending the length of your shoot and increasing the cost of your video production. 

• Post-Production Costs

Filming may have wrapped, but the total cost of your video production is far from finalised. While the editing process should be more straightforward than the shoot, the length and complexity of your production should inform how complicated and expensive your post-production will be. 

Provided one editor is able to sort and compile the relevant raw footage, you can expect to pay between £150 and £600 per day they spend on the edit. However, productions that span several days and result in hours of footage to sift through might require a team of specialist editors to locate, colour grade and adjust the sound levels of your best shots.

The creation of additional assets, such as music, sound and visual effects, similarly adds to the cost of your video production. Digital artists could add upwards of £2,000 to your project, while securing the rights of licensed music could cost hundreds, thousands or hundreds of thousands depending on the prominence of your chosen artist. 

 Benefits of a Video Production Company

Whether you are outsourcing your project to freelancer videographers or employing an in-house team to handle your video production, there are usually additional costs and responsibilities that you are expected to cover. By working with a video production company, you remove any ambiguity from the equation by discussing costs up front then letting them take care of everything else.  

Video production companies typically offer packages for one-off projects, or retainers if your company needs to produce multiple pieces of video content over a longer period of time. With an upfront cost, you can budget for your video production project much more effectively, with none of the hidden costs.