How to Setup a Budget for a Video Production

The company budget set aside for producing the video will ultimately determine whether this will be a low-end or high-end video production. It is essential to consider factors such as the intended audience; the message of the video; and what the video will be used for. 

A high-end project will require more crew, equipment, and time to produce than a low-end production. The planning phase is also much more intensive, as all filming locations are visited before the actual shoot. 

Additional costs incurred during the pre-production stage of high-end productions include sourcing filming locations through specialised agencies and hiring on-camera presenters, actors, and ‘extras’. 

Artists are usually sourced by means of casting agents who, in addition to their own agency fees, will calculate rates according to the artist’s experience and individual ‘appearance fee’. Although auditions are considered a vital part of the casting process, it takes up a lot of time and subsequently adds to the cost.

Camera transport equipment such as ‘steady-cam’ (harness worn by the camera man); ‘tracks’ (a camera set up on tracks); and a ‘crane’ (used to lift, drop, and tilt the camera) will result in a high-quality, professional end product.

However, camera transport equipment is expensive to hire, and may take a considerable time to set up. Also, a number of crew members will need to be on standby to assemble and dissemble the different parts. 

Fortunately, there are ways to bring costs down dramatically, without sacrificing quality. You can identify staff members to act as extras in the video, or you can assume responsibility to source suitable filming locations. As travelling expenses incurred by the video production team will also be charged for, you can keep costs low by restricting filming locations to minimise travelling expenses. 

During the post-production stage of the production, keep in mind that one animation of one or two seconds can take several days to create. 

Also, stock footage, ambient sound, and custom-developed sound tracks (scripted according to individual shots and voice-over pieces), may result in your company having to pay more than was originally planned for.
A voice artist is a great way to narrate your videos professionally however they are expensive. Consider the the nature of the video, if there is a lot to be communicated then a voice artist is perhaps essential, whereas if the the video is mostly animation and images then a voice artist should rather be discounted. Standard payment terms is usually 50% deposit which is payable on acceptance of the quote with the balance due on completion.

Sound Idea Digital is a full service Video Production Company that  specialise in health & safety videos, training videos, marketing videos, corporate videos, web videos, animation and motion graphics. We also produce industrial, mining, induction, and company launch videos. | www.soundideavideoproduction.co.za | info@soundidea.co.za