Cost of video production can vary from agency to agency. Professional video production for your company does not have to be expensive. However, there are several fees involved with video production, which we’ll discuss in this article. If you’re searching for a precise estimate for your video production, we welcome you to fill out our simple online form to request a quotation. Otherwise, keep reading to learn about 10 elements that influence how much a video would cost for a brand, product, or business.
Video Production Cost Breakdown
- Project Management Expenses
The project manager’s or project coordinator’s responsibility is more than merely administrative. The project manager or coordinator guarantees that your video production budget is not exceeded. They also oversee the production schedule, ensuring that all parties participating in a project meet their deadlines. There is no exception when it comes to video creation. In video production, the producer is the project manager or coordinator.
Typical Hourly Rates: For a recent film school graduate, expect to pay RM100 per hour, while for a seasoned video production expert, expect to spend RM1000 per hour. The executive producer of the production normally gets a fixed wage in KL, Selangor, and comparable metro regions.
- Script Development Costs
If you need a script for your video production, you’ll need to employ a professional scriptwriter. Scriptwriting fees vary based on whether you need a completely prepared screenplay or an outline to follow for your on-camera speakers. Naturally, the price is determined by the length of your video. We can help you with scriptwriting.
Typical Rates: For an experienced scriptwriter to generate a video concept, storyboard, and script for your video, you can anticipate paying between RM200 and RM600 per hour.
- Cost to Hire On-Screen Talent
If you’d rather not appear on camera and instead employ actors, models, or voice-over talent, the cost will be determined by their degree of experience and competence, as well as the amount of time they’ll be required.
Typical Hourly Rates: Actors, models, and voiceover artists often charge between RM200 and RM2000 per hour, depending on demand, experience, and union fees.
- Costs of Other Types of Visual Assets
Shots that complement what is being spoken on screen are beneficial in most videos. These are known as B-roll or cut-away shots in the video production industry. If you’re explaining a product or service in your video, for example, you may include cutaway views of the item or service in action. Showing the audience what is being mentioned in the video keeps the viewer’s attention and makes the video more informative. Estimates for various sorts of extra graphics will be included in your video production budget, including:
- Stock photos (royalty free), Still images, Licensed photos, Custom photography, Video, Stock video (royalty free), Licensed video, Custom video, Illustrations/3D Elements, Stock illustrations, Custom illustrations & 3D models
Stock photographs, videos, and graphics are more widely available and less expensive than custom-made versions. You don’t have exclusive rights to stock photographs, which is a disadvantage. They can also be used by others.
Typical Rates: Stock pictures may be as little as RM20 per image, while 4K and HD stock footage can be as low as RM50 for each clip. High-quality stock photos can set you back significantly more. Cutaways and B-roll shots often account for 15% to 50% of total filming/shooting costs. This will be determined by the amount of time required to capture the additional video as well as the type of camera employed.
- Costs to Add Special Effects
If your video project incorporates special effects like animations, motion graphics, or title overlays (also known as lower thirds, captions, or Chyrons), the cost of video production will increase. We strongly advise including a call to action in marketing videos designed to sell something, promote a product or service, or generate a pipeline of leads, which is where visual special effects come into play.
Typical Rates: Simple graphics are required for certain videos, while others are totally animated. Basic editing costs between RM300 and RM1000 per hour. Special effects, on the other hand, might easily cost between RM400 and RM1500 per hour. The cost of high-quality 3D animation is determined by the animator’s expertise and the project’s complexity.
- Location Costs Associated with Video Production
What are your shooting locations? Are you going to shoot indoors or outside? Do you require a studio or a sound stage? Are you shooting in many locations? Do you plan to use a green screen? Is it necessary for you to travel between locations?
- Studio rental
- Fees and permits
- Local or travel
- Building rental
Typical Rates: The overall length of time necessary for production is the most important component in calculating location expenditures in your video production prices. You can accomplish a lot in a short period of time if you prepare well (which is another reason why scripting and storyboarding are so important). If a studio is required, rates in the city range from RM400 to RM1600 per hour, depending on the size of the studio.
- Music Licensing Fees
Will your video include any unique sound effects or additional audio? There are certain websites that provide music without a license, but always read the fine print (our video product cost includes this service). You have three options when it comes to adding music to your videos:
- Stock music (royalty free)
- Licensed music
- Custom score
Typical Rates: For a 2 to 3-minute track, royalty-free music for video starts at RM50. If you engage an audio engineer to create a song for your video, it might cost anywhere from RM2000 to RM4000 or more, depending on the musician’s talent and experience, as well as the project’s demands.
- Video Production Crew Costs
What is the cost of hiring a camera crew? Why not hire a whole video production crew? The number of individuals engaged in your video’s production will be determined by the project’s complexity, as well as the length of time and, of course, your budget. A camera operator, makeup or hair stylist, or lighting specialist, for example, are not required for an animated video.
Typical Rates: In the city, key staff such as the director, director of photography (DP), and editor earn between RM300 and RM600 per hour. Sound engineers with their own equipment make between RM200 and RM350 per hour while lighting engineers earn between RM100 and RM250 per hour.
- Video Rendering and Compression Time
Video rendering and compression are “hidden” phases in the video production process since they take place behind the scenes. In reality, the costs of video rendering and compression are frequently included in the editing time and budget. Transferring footage into an editing system, post-edit rendering it into a presentable format (usually for online or broadcast), and uploading it to wherever it will be housed are all examples of video rendering and compression (Vimeo, YouTube, or some other channel). All of this takes time.
Typical Rates: Costs for video rendering and compression might be bundled with other services such as editing, or they can be added to the budget as an hourly price. Prices range from RM100 to RM350 per hour, depending on the computer’s processing speed.
- Overhead Costs of Video Production
Equipment (cameras, lights, sound, studio, computers, software)
Insurance (liability and workers compensation)
Typical Rates: Is it an RM800 smartphone or an RM100,000 RED camera you’re using? The bottom line when it comes to camera prices is that the more costly the camera package, the more noticeable the difference in the end output will be. You might pay anywhere from RM400 to RM8,000 each day or more depending on the camera bundle you pick. Teleprompters, jibs, Steadicams, and other similar items can cost anything from RM100 to RM4,000 per day.
Bottom line, how much does it cost to make a video?
Here are some statistics that you might use as a starting point for budgeting. A properly produced 2 to 3-minute corporate video normally costs between RM8,000 and RM30,000. The typical cost of video production is usually approximately RM4,000 to RM20,000 for each finished minute, according to most production companies, and we believe that this is a fair starting point to consider when budgeting.
When working with a production company, be transparent with your budget. Our finest video production projects begin when our clients say, “Here’s my budget, these are my aims, what can you do for me?”
The production business will have to guess at a budget if you don’t start with one. Working with a video production business that provides you single pricing for a video or series of videos without explaining what goes into that price point should be avoided.