With video’s ability to inform purchase decisions, increase engagement, and spread brand awareness, it’s no wonder that 91% of businesses use it as a marketing tool today. Unfortunately, a corporate video in Sydney doesn’t come cheap.
In fact, you’ll spend anywhere from $5,000 to over $100,000 on a video. But what you’ll pay will actually depend on your budget, who you work with, and what type of video you want. Does that mean there’s no average cost of video production?
Let’s dig into corporate video production and figure out what an “average” video cost looks like for you.
Videos aren’t a one-man beast. It takes an army of people and tools to create a video that rocks. And that’s not all. You also have to keep an eye on a million other things.
Let’s talk about some of them below:
The longer and more complex your video, the more time, money, and effort it’ll take. For instance, if you’re going for lots of frames, actors, and VFX, your corporate video is going to cost a pretty penny. And that’s without any scripting, blocking, editing, or stock footage acquisition.
Unless you have an empty and video-worthy office, you’ll most likely rent a studio for a few days to get some footage. That can cost anywhere from $55 to $500 per hour, depending on what you go for.
Plus, you also need gear to produce high-quality video, such as cameras, lenses, studio lighting, microphones, storage, gimbals, tripods, software, and equipment protection. Renting all of these can cost anywhere from $1,500 to $5,000 bucks per day.
From scriptwriters, actors, and voiceover artists to cinematographers, video editors, and coaches, there’s an army of people you need to film a good video. And these people charge anywhere from $40 to $300+/hour.
If you multiply that cost by the total number of hours everyone will spend on your video, you’re adding thousands of dollars to your video production budget.
When it comes to video production, you have to know the end before you begin. Why? Because the goal of a video isn’t to talk about an objective. Instead, it’s about what you want the learner to do with your offering.
And once you know that, you can figure out everything you’ll need to do to make sure they take the action you want. What does “everything” include? Here’s a rough list of what you’ll have to figure out at this stage:
All of these elements require time and money, which can increase the cost of your video production.
Corporate videos don’t come cheap, but they don’t hold a candle in front of commercials, which can cost half a million — and sometimes even more.
So, if you’re thinking of creating a business video, remember that your costs will go high depending on the effort and time you need to put into a video.
Post-production is where your colorists, foley artists, sound designers, and editors turn your footage into a high-quality, impactful video. It takes a village and can be spread over a few months to a year, depending on the length, complexity, and type of your video.
But in a nutshell, the shorter the post-production process (no matter the complexity or type of your video), the lower your video production cost.
There are at least 12 different types of corporate videos you can go for and each has a different cost. Let’s take a deeper look.
A brand video promotes a company, product line, service, or event. It helps build and increase brand awareness and interest. They cost anywhere from $5,000 to $50,000.
Explainer videos are short-form animated videos that are typically two to four minutes long. They cost anywhere from $5,000 to $25,000, depending on the animation complexity and production quality.
Promotional and commercial videos are designed to advertise brands, products, or services in an appealing, engaging way to encourage consumer interest. Promotional video production in Sydney costs anywhere from $10,000 to $500,000.
Recruitment videos are mostly used by employers to acquire talent. They promote company culture, career opportunities, and employer brand. These videos cost anywhere from $5,000 to $55,000.
Training and educational videos help people learn about processes, procedures, product usage, compliance policies, etc. They’re typically longer and cost $5,000 to $30,000.
Testimonial and customer story videos display social proof and build credibility through client interviews and success stories. They can cost $5,000 to $25,000.
Case study videos highlight specific customer success stories achieved using a product/service. They’re in-depth and can be technical. These videos cost $5,000 to $20,000.
Product demos talk about product features and show customers how to use a SaaS platform, software, app, or another product. They cost anywhere from $3,000 to $8,000.
Live event coverage videos record conferences, summits, and keynote speeches to repurpose content. They can cost $10,000 to $30,000.
Internal communication videos convey leadership messaging, important company announcements, and executive interviews. They’re typically short and can cost $3,000 to $10,000.
Social media videos are essentially short clips optimised for platforms like Instagram, TikTok, Facebook, and YouTube. They can cost anywhere from $2,500 to $10,000.
Documentaries are long-form videos exploring company histories, operations, facilities, people, or communities impacted. On average, they cost $30,000 to $100,000+.
While videographer, editor, and shooting expenses make up the bulk of video production costs, you also have to consider the following expenses:
Video licensing is when you pay to licence existing video content for your own video. It provides you with the footage you need — such as B-roll shots — without having to brainstorm and film it yourself.
However, it also comes with licensing fees and royalties, especially if you go with rights-managed footage, which can be more expensive than royalty-free clips.
Music is crucial for enlivening scenes, creating a specific atmosphere, generating emotions, and reinforcing messages. And while you can access free music on the internet, it might not match your video type, tone, and brand image.
So, you might have to purchase stock music, which costs anywhere from $10 to $500/track, or get bespoke music created for your video. This can cost anywhere from $400 to $4,000+.
If your corporate video project requires you to film at different locations, you might have to include travel, meals, transportation, and accommodation costs in your video production budget. These can range from $1,000 to $10,000+.
While a certain number of revisions are usually covered in video production contracts, you might have to pay more if you get your videos revised, such as upgrading the CGI, adding graphics at certain points, or changing the music.
You also have to consider overhead costs like makeup, props, video extras, set-specific equipment, file storage, translation, and equipment maintenance. These can add anywhere from $1,000 to $5,000 to your budget.
Now that we’ve considered everything that impacts the price of your corporate video, let’s understand how you can get an accurate quote for it from companies like Ivory Media.
Before asking a video production company for a quote, it’s crucial to understand what you want when it comes to your video content. This includes your priorities, non-negotiables, and filming specifics.
You should also have a budget in mind. For instance, if you have a budget ceiling of $20,000, a quote for double that isn’t going to help.
Once you understand what you want from your video, collect samples of videos and music that are similar to the content you want to create. This will make it easier for the video production company to understand what you want.
You can look through YouTube, TikTok, Instagram, or competitor pages for reference videos.
After you’ve done your homework, reach out to us through our contact page, send us an email, or give us a call if you’re looking for a corporate video in Sydney. Make sure to outline what you want clearly because that can help you get an accurate video quote quickly.
Now that you know what goes into creating a corporate video and getting an accurate quote, let’s look at three real-life examples of corporate videos and how much they probably cost (according to our experience).
Likely cost: $15,000 to $35,000
In this brand video, Vervoe shows their audience exactly what to expect from them through tongue-in-cheek descriptions and vibrant graphics while poking some fun at bad hires.
The video’s blend of comedic and informative helps the company tap into a wider audience and create brand awareness at the same time.
Likely cost: $10,000 to $18,000
Animated videos can be a hit or a miss, especially if you don’t work with the right corporate video production company. But Easy Agile nails its message by combining striking animation with interesting storytelling.
This video helps SaaS companies understand exactly how they can use Easy Agile’s system to become more agile through thought-provoking imagery and an entertaining voice.
Likely cost: $10,000 to $20,000
Instead of writing a boring landing page that nobody will read, Crazy Domains hired a corporate video production company to show their audience how a normal person named Josh got his business up and running in minutes with just a click.
Corporate video production can be as expensive or as affordable as you want it to be, depending on your requirements, needs, style, and selection.
On average, it can cost anywhere from $5000-$55000. But again, don’t depend on that range too much.
More importantly, if you’re looking to create a corporate video, getting an accurate quote is crucial. So reach out to us today for video production in Sydney, and we’ll help you understand how much you’ll actually have to pay for a video that looks and sounds great.
Want to take your corporate video production to the next level? Check out our latest articles and learn all about corporate video production and video production in Sydney, plus find out how we can create professional videos that showcase your brand’s unique story.
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Photo by Alexander Dummer on Unsplash
