Video Production Cost 2024: A Video Production Pricing Guide

Videos are priority for every business now and for to produce any video, knowing the video production cost is of utmost necessity.

Video production requires time, budget, resources, and evaluating is all three of them is the best practice before beginning with production.

Whether it’s live-action or animated video production, videos are important for your objectives, and once you are clear with your budget you can decide on your resources.

In this article, we will guide you about video production pricing, the importance of videos, the factors for video production cost. Give this article a quick read for better video cost estimation.

Video Production Cost For 1-Minute

Generally, video production pricing is estimated by time. Mostly businesses prefer animated marketing videos of 30 seconds to 1-minute. Following are the video animation styles along with their costs that are broadly used for marketing purposes:

What Is Explainer Video Cost?

The explainer video cost is $3500 to $5500 for 1-minute. The explainer video production pricing depends on the video type, animation style, and your project’s complexity. If the you can compromise on quality, you can get it in cheaper rates with freelancers and online video creators starting from $500 to $2500.

What Is Educational Animated Video Cost?

On an average, educational animation videos will cost you around $20,000–$25,000 per minute. If you go for live-action educational videos, $35,000-50,000 per minute is the estimated cost. The cost depends on the video length, video style and the subject complexity.

What Is Whiteboard Animation Video Cost?

Video production cost for whiteboard animation starts from $2,800 to $35,000 for 1-minute. You can go through various whiteboard video examples to choose one for you and decide on what quality you want and your budget. At the end, you can get a well-made video that you can use on website’s home page, social media, meetings, webinars, conferences, and even on YouTube.

What Is Motion Graphics Video Cost?

Motion graphics video cost is $100 to $5,000 for 1-minute on an average. You may find it expensive, but it requires lots of efforts and time to create 1-minute video with stunning motion graphics. The quality of final product should also be kept in mind while determining the cost.

What Is 2D Animation Video Cost?

A 2D animated video cost ranges from $7,000 to $20,000 for 1-minute. This 2D animation video production pricing can be more expensive or cheaper depending on your video project. However, you can keep in this price in mind for a good quality video.

What Is 3D Animation Video Cost?

A 3D animated video can cost you from $10,000 to $20,000 for 1-minute. You can get it in $5,000 for 30-second 3D animation video. This 3D animation video production pricing varies on factors like animation complexity, the animation detail level, and the animation quality.

What Is Live-Action Video Production Cost?

The video production cost for a scripted narrative live-action video ranges between $50,000 to $100,000 for 1-2 minute. The price variates because of various factors like professional actors, shooting days, and production and post-production requirements.

Video Type	Video Length	Video Production Cost
Explainer Video	1 Minute/60 Seconds	$3500 to $5500
Educational Animation Videos	1 Minute/60 Seconds	$20,000–$25,000 animated videos $35,000-50,000+ for Live-action
Whiteboard Animation Video	1 Minute/60 Seconds	$2,800 to $35,000
Motion Graphics Video	1 Minute/60 Seconds	$100 to $5,000
2D Animation Video	1 Minute/60 Seconds	$7,000 to $20,000
3D Animation Video	1 Minute/ 60 Seconds	$10,000 to $20,000
3D Animation Video	30 Seconds	$5,000
Live-Action Video	1-2 Minutes	$50,000 to $100,000

What Factors Affect The Video Production Pricing?

There are various factors that drive video production cost, including:

• What video quality do you want?
• Pre-production services like scriptwriting & storyboarding
• Animation type (motion graphics, whiteboard, 2D or 3D animation)
• In case of live-action, shoot days, shooting location, crew size, etc.
• Post-production services like VFX, video editing, sound design, etc.

Keep in mind these things before thinking about next video project.

Video Production Cost: DIY Vs. Freelancer Vs. Professional Companies

One of the important factor for video production pricing is the resource. Usually, there are three options to get your video done, i.e., DIY, hiring a freelancer, or outsource your video production to professional companies.

A reliable video production agency provides a high quality video. Although the rates are higher as compared to a freelancer because they have a team and a proper office to maintain.

On the other hand, in case of DIY, or hiring a freelancer will is much more cost-efficient with cost of $30-$100/ hour. However, you will have to compromise on video quality and will not get full-service as you have to do planning, pre-production, on your own. Let’s discuss it in details:

DIY Video Production/Inhouse Video Production

If you have video production experts in your company or if you are qualified enough to create a video on your own, then this option is best for you. so what will you need for DIY Video Production?

All you need is a silent space, some video and audio recording equipment. You’ill need some video & audio editing software, good equipment for lighting, a backdrop (consider Green Screen), and various related items along with a mic, and a professional camera.

The first DIY video project will cost you around $200-$500 to buy equipment, upgrade the machine, and license the software. It is a lifetime investment until something breaks or gets outdated. Otherwise, you are good to go.

As compared to video production companies, you have to pay a little amount for software subscription for DIY videos. While hiring video production companies charge $2,000-$5000 for a video project depending on complexity.

Employ a Freelancer

You can find many talented individuals on Fiverr, Upwork, Bark, and other freelance platforms to get a video. But it is difficult to find full service video production from one freelance and usually, there are video editors who work with stock footages to give a basic level videos.

With that said, a beginner level freelance editor charge from $20 to $45 per hour on an average. An intermediate level video editing rates are $45 to $100 per hour. You’ll get a pro level video editor and producer in $60-$100 per hour rate.

However, you can not expect stress-free and smooth video production process from a freelancer. then this option is not for you. From delayed project deadlines, to poor quality videos, and low communication; you;ll face all this when employing a freelancer.

Video production is a combination of various crucial steps including script writing, storyboarding, animation, shooting, and editing and you cannot get the job done by hiring one to two freelancers.

In our expert opinion, project quality always comes over cost efficiency. If you have a sufficient budget and can afford a collective workforce (video production company), then don’t freelance your project.

Hire a Video Production Company

Recruiting a video production agency can be a little expensive for many companies, but if you want a quality video project, then surely opt for this option.

Various video production and animation services are out there to facilitate you with their top-notch video production services, but finding the best is quite a task.

An animated video production company costs you between $900 and $3,000 approx., which includes animated explainers, whiteboard animation, motion graphics, and 2D animation, but if you go for 3D animation, it will cost you around $3500-$7,000.

The traditional live-action video will cost you around $6,000-$11,000, but for accurate cost estimation, we have breakdown the video production cost into core production factors.

P.S: Living in New York and looking for a video production company? Here are the top video production companies in New York City that you should consider for your video project.

Video Production Cost: Factors Breakdown and Cost Analysis

Every project is a collection of multiple tasks that the team has to execute. We have breakdown the video production cost according to each task and its complexity.

1. Video Project Management Cost

Video project management & coordination expenses on an average are $25-$250/hour. It all depends on qualification and expertise of project manager you hire for this role. The deciding factor is mainly the project manager’s experience and ultimately let you know how expensive you can go.

2. Script Writing Cost

Video script writing can make or break your video’s impact. A script writer usually charge as per scripted minutes that may start from $200-$300 per minute for video’s script. The price may surge for upto $1500 for a 3-minute video if the video script is targeting a wider audience with specific niche.

3. Actors and Voice Over Artist Hiring Cost

Every video requires some on-screen and off-screen talent to help it reach success. The video production team hires voice-over artists, models, and actors for the video to play specific parts in the video.

On an average actors and voice-over artists cost you between $50 – $500+ per hour or per project. On the other hand, professional actors may cost you $1,000-$10,000+ per day. A professional voiceover artist usually charges $100-$2,000+ per project.

4. Video’s Visual Assets Cost

Video production cost is incomplete without calculating visual assets costs such as VFX, 3D modeling, Animation, Simulation, etc. Here is the cost for the assets:

Video Asset	Cost
Simple VFX/basic compositing/color grading	$30 to $50 per hour
Independent/short film	$5,000 to $50,000 per project
3D Modeling and 3D Assets like characters and props	$300 to $2,000 per project
Animation/Simulation	$2,000 to $5,000 per minute

Online stock photos and videos are usually available and are quite affordable as compared to customized assets. The drawback of using stock images is that they are available for everyone, and anyone can use them, which compromises your video’s individuality and uniqueness.

You can get stock images at $5 and high-quality stock footage at $10. B-roll and cut-away shots take 10% to 40% of the video production budget, which depends on the footage time and camera type.

5. Animation, VFX and Special Effects Cost

Some video projects require animations, VFX, special effects, motion graphics, or typography, which automatically affects your video production pricing.

A quality VFX can cost you from $2,000 to $5,000 per minute. Remember that this cost all depends on how complex the effects are, how many shots are required, and how detailed it is. High-quality visual effects involve lots of work and can be separately shot.

The 2D animation for a 1-minute video is $7000 to $20000, and the video editing will cost you between $75 to $150/hour depending upon the location of your region and the video editor’s experience level.

The cost of 3D animation depends upon the animator’s expertise and deadline. However, a 60-second 3D animation cost can be $10,000-$20,000, while 3D animation for a 30-second video can start from $5,000. Again, it depends on animation complexity, quality, and the level of detail.

6. The Location Cost

The location matters a lot when it comes to video production. An ideal location according to the visual requirement is important for the desired results. Here are some questions that you must consider:

• Where are you shooting?
• Is your video shooting requiring an indoor or outdoor setup?
• Do you require a studio?
• Do you need multiple locations for your video shoot?
• Is your video need a green screen?

After the questions, there are some rents that you need to take care of:

• The studio’s rent
• The location’s permit and fee.
• The travel cost.
• The location cost. (i.e., building, studio, landscape)

The thing that helps in determining the video production cost is efficient cost-planning. You need to understand your budget and the location cost.

7. Music Licensing Cost

The video is incomplete without music and sound. A non-commercial videogram synchronization license starts at $0.25/copy with a license fee of $25/ license minimum. This includes on-screen performance or using a song in a video.

There are so many projects that require special sound effects and require sound customization. You can also go for license-free sounds with three music options when it comes to video production:

• Custom sound, music, and audio
• Stock music (royalty free)
• Licensed music

2 to 3 minutes of royalty-free music cost starts from $11. If you hire an audio engineer or music composer, the audio customization will cost you $500 to $1,000+ (depending on the resources capabilities, and project requirements).

8. Video Production Crew Cost

Knowing the number of people involve in your video production project is good, but understanding how much it will cost you to pay each is important. The following are the people who complete your video production crew:

• Producer, project manager, or project coordinator
• Director of videography (DV)
• Director of photography (DP)
• Sound team
• Lighting team
• Makeup/hair team
• Camera team
• Dress and costume team
• Editor team
• Designer and animation team.

The crew quantity depends on the project’s complexity, video length, shooting duration, and budget. The animated video does not require a director, camera team, lighting team, makeup team, and costume team. The director, directors, and editors earn from $100 to $200 an hour. The sound team (with equipment) earns between $50 and $80 an hour, and the lighting team earns between $30 and $55 an hour.

9. Video Rendering & Compression Time

Video rendering and compression are parts of the video production process. It’s cost is included with editing services and can be $25-$75 per hour, depending on the computer’s processing speed.

10. Video Production Overhead Cost

Video production crew require various equipment like lights, cameras, sound, computers, studio, and software. Insurance is also important in liability and workers’ compensation.

If you are making a video on a smartphone, it will cost you around $200, and if you shoot the video with a camera, it will cost you approx. $25,000.

The Final Video Production Price List

Here is a summary of all the costs we covered in this post:

Video Project Management Cost:

• Average cost: $25-$250/hour

Script Writing Cost:

• Range: $200-$300 per minute
• May increase to $1500 for a 3-minute video targeting a wider audience with a specific niche

Actors and Voice Over Artist Hiring Cost:

• Average Cost range: $50-$500+ per hour or per project
• Professional actors: $1,000-$10,000+ per day
• Professional voiceover artist: $100-$2,000+ per project

Visual Assets Costs:

• Simple VFX/basic compositing/color grading: $30 to $50 per hour
• Independent/short film: $5,000 to $50,000 per project
• 3D Modeling and 3D Assets (characters and props): $300 to $2,000 per project
• Animation/Simulation: $2,000 to $5,000 per minute

Online Stock Photos and Videos:

• Stock images: $5
• High-quality stock footage: $10

Animation, VFX, and Special Effects Costs:

• Quality VFX: $2,000 to $5,000 per minute (depends on complexity, number of shots, and detail)
• 2D Animation (1-minute video): $7,000 to $20,000
• 3D Animation (60-second): $10,000 to $20,000
• 3D Animation (30-second): Starts from $5,000 (depends on complexity, quality, and detail)
• Video Editing: $75 to $150/hour (depends on location and editor’s experience)

Location Costs:

Considerations:

• Ideal location according to visual requirements
• Indoor or outdoor setup
• Need for a studio
• Multiple locations for the video shoot
• Requirement of a green screen

Note: Location costs are subjective and depend on specific project needs.

Music and Sound Costs:

• Non-commercial videogram synchronization license: Starts at $0.25/copy with a license fee of $25/license minimum
• Sound options in video production:
• Custom sound, music, and audio
• Stock music (royalty-free)
• Licensed music
• 2 to 3 minutes of royalty-free music: Starts from $11
• Audio customization by an audio engineer or music composer: $500 to $1,000+ (depends on resources and project requirements)

Video Rendering & Compression:

• Typically, $25-$75 per hour

Video Production Overhead Cost:

• Video made on a smartphone: Around $200
• Video shot with a camera: Approximately $25,000

Equipment required for the video production crew:

• Lights, cameras, sound equipment
• Computers
• Studio space
• Software
• Insurance for liability and workers’ compensation is essential

Note: Overhead costs can vary based on the scale and complexity of the production, as well as the quality of equipment used.

Importance of Videos For Businesses

In the past few years, videos have become common in our daily life. People watch videos to learn, explore, entertain, and much more. Most companies think of video content as their ultimate marketing asset and use them to market their business to the world.

• Better SEO
• Videos increase conversions
• Boosts social sharing
• Attract mobile users
• Boost conversions
• Video adds value
• Video builds credibility
• Video helps sell
• Video is popular

Due to various video-sharing and social media platforms, video has become an integral part of our internet surfing. Here are some statistics that might help you pick the right marketing medium for your brand – video, that is!

• 94% of marketers have reported that video content has improved consumer comprehension of their services and products.
• More than 50% of e-Store buyers claim that online videos help them determine what product to buy from what brand.
• 84% of customers were convinced to buy a service or product from a particular brand after watching their product video.
• 58% of marketers use videos to promote their services, products, and brands.
• 69% of the audience prefers to watch videos to learn about a product.

These statistics are massive!

Now, you know why video is so vital for business and reaching out to new customers.

The Recap

We have included all the video production pricing that you need to know. You surely need to focus on the budget, time, and resources.

Before beginning with the project, you need to understand why video production is important for your business and how it can affect your sales graph.

If you are into animated video production, you need to understand the factors that can affect your video animation production budgeting like pre-production, custom video animation, online software-based animation, motion graphics (online tools) animation, motion graphics (desktop tools) animation, voice-over, scriptwriting, and post-production.

Divide your video production cost between time and resources, and identify the cost accordingly. Identify the video duration and hire the resource as needed. In video production, you get two types of resources that you have to choose, manage, and pay for according to your project budget.

The Writer’s Choice

If you are looking for video editing services, BuzzFlick – a video animation agency – is here to assist you with expertise. The studio has a team of talented and qualified directors, producers, editors, animators, graphics designers, scriptwriters, voice-over artists, and audio engineers who put their 200% into your project.

BuzzFlick offers various video production and animation services like 2D animation, 3D animation, 3D modeling, explainer videos, motion graphics, whiteboard animation, and live-action & animated video editing.