Video Production Rates - How to estimate budgets
Posted on August 26 2019
Costs of a video production | Video production rates
You want to start your own Video Production, but you have no idea how to estimate budgets? Read on and find out about all important factors you need to consider.
The following are the three main aspects of your budget calculation:
For the estimation of the budget you need to plan what the realization of the Project will entail. So you will have to talk with your client and thereafter analyse the project. Are actors needed and a professional make-up artist? What about voice actors or special camera techniques? Will post production be the biggest part of the project? For better efficiency start building a schedule and communicate with all the important decision-makers. If possible try scouting for sets or book a studio early on. Plan time for writing/developing of the script, storyboards and spoken text. All of this will cost you working hours, so take it into account!
2. The actual shoot
The price for the shoot always depends on how elaborate it is.
The main price factors on set are:
-Work time of the actors, the DP, the director, sound man.
-Travel expenses and lodging for the film team and actors (if needed).
-Rental cost for the studio or set.
3. Post Production
This factor is highly and sadly regularly underestimated. Most of the time the bulk of the work will be in post! Long hours will be spend cutting, colour correcting, editing or building graphics or animations. You will need to find fitting music and pay for it. Be aware of proposing fixed prices, each project entails their own difficulties. And depending on how many correction loops you grant, your profit will dwindle quickly if you do not account for it.