How Much Should You Be Spending On Video Production? Our Go To Guide For Understanding Video Pricing!

Shaun Boden
April 14, 2022

How Much Should You Be Spending On Video Production? Our Go To Guide For Understanding Video Pricing!

Video production is one of those services that can be hard to pin down to a specific price. It varies across the board, all depending on your particular project. Some projects will be in the hundreds and others will be in the thousands, if not millions. So, how much should you be spending on video production?

We come across this question quite a lot in our line of work.

“It all looks great but how much do you charge?”

“I want a video like that but how much is it going to cost me?”

“How much should I be spending on video marketing”

Well, we’ve got you covered.

We’re going to break down the pricing structure of video production and give you a general basis that you can use going forward with your own projects.

We do have to say however, that the prices we talk about are in no way set in stone. There are unfortunately far too many variables for anybody to be able to give a one price fits all figure.

Factors like production company/creator, size of project, time scale, style of video, equipment required, locations, actors, etc. all need to be considered here.

Don’t be too discouraged though, it’s really not that complicated once you start to get your head around it.

Let’s begin!

Video production price breakdown

We’ll cut to the chase.

For a good freelancer, you’ll be looking at around £500 as a starting price. This is subject to change depending upon your project but it is nevertheless a common starting figure.

For a reputable production company, you’ll be looking at around the £3,000 mark as your starting price. Again, this is subject to change depending upon your requirements. 

Now you may be thinking the freelancer is the way to go but we’d urge you to consider your actual project requirements. A freelancer is one person, a production company is usually a crew full of people with different specialties. 

With a production company, they’ll take care of the whole process for you. With a freelancer, you’ll likely find yourself more involved in a management capacity.

Does this mean that it’s wrong to go with the freelancer? Absolutely not. There are many amazing freelancers out there who could put some production companies to shame.

There are also projects that don’t require a full production team and are perfect for a freelancer. This is where you don’t want to waste money on a full production crew.

We’d urge you to again remember that the prices we give are in no way concrete figures. 

Will there be freelancers who charge more than £500 as a starting price? Yes. 

Will there be production companies who charge less than £3,000 as a starting price? Of course.

The best way to handle this is to research companies and freelancers and then gather some quotes. See what’s possible and go from there.

A simple guide to follow

We’ve shared this guide before but we still stand by it so we’ll share it again.

This guide sets out a three tier grouping system for video production pricing. They are as follows:

  1. Semi-pro level: £0 - £3,000
    Projects with a smaller crew, usually 1-2 people. A good understanding of video production with appropriate equipment for each job. Talent is varied here and time frames are usually low.
  2. Professional level: £3,000 - £20,000
    At this level, you’ve got top level talent with high valued equipment (professional cameras, rigs, motion graphics etc.). Longer time frame for videos here and a much better finished product.
  3. Hollywood level: £100,000+
    This is the creme de la creme of video production. The top level. Think movie trailers, blue chip advertisements, this is the level of skill we're talking about.

Just as a side note - this is in no way to suggest that all freelancers are semi-pro level. There are plenty of professional level freelancers but obviously prices are adjusted for one man band operations.

So, how much should you actually be spending on video production?

Now we’ve covered how video production pricing is broken down, it’s time to talk about how much you should actually be spending.

Well, as anti-climatic as it sounds, it really depends upon what you want.

Are you interested in corporate videos? Promotional videos? Social media video packages?

It all depends on you.

What we will say is that in this day and age, every company should at least have a hand in producing video content. 

Whether this is through content you’re producing yourself via a smartphone or some kind of camera equipment, or whether it's through a commissioned team or individual - you need to at least be using some kind of video content within your marketing strategies. 

Unfortunately, it would be an actual impossibility for us to provide any kind of package pricing because there are just too many variables to consider. 

I wouldn’t worry too much about our pricing guides stated above when it comes to monthly package deals though. These will be completely different prices and will vary completely depending upon what you want.

Most package deals tend to be bespoke because as you can imagine, every business has their own ideas of what they want to achieve and where they want to be.

The only advice we can give here is again to gather package style quotes and go from there. 

In answer to the main question though - how much should you be spending on video production? Even though we can’t say an exact amount, we definitely think you should dedicate a regular, consistent budget towards creating content.

What about after the video is made?

We’re venturing into a bit of different territory here but it’s worth talking about nonetheless.

With the proliferation of video content, it is always advisable to put money behind your videos with some paid promotion. 

Now we’re aware that not all businesses will have the deepest pockets but we can’t stress enough the benefit of paid ads across social media platforms.

This can literally transform your businesses marketing efforts. There’s still elements of trial and error here and there are still plenty of variables to consider but nonetheless, please don’t neglect the promotion side of video production.

Creating videos is great but you’re really limiting yourself if you don’t market the video post-production.

Final thoughts

Ultimately, the question of how much you should spend on video comes down to you and your goals. You may have a large budget or you may have nothing at all. Either way, we can’t stress how important it is to be using video in 2021.

Video isn’t going anywhere anytime soon so the sooner you embrace content creation, the better for your business. We’re not saying you have to go out and splurge either, you can create the content yourself if you wish to. 

When it comes to video content, the world is your oyster. 

Get involved, get creative and get started!