Video Content

Promo Video Pricing: How Much Does It Cost in 2024?

Laura Chaves
February 29, 2024

The State of Video in 2024

Are you curious about how promotional videos are priced? Wondering why some videos cost more than others?

Promotional videos have become popular for businesses to catch viewers’ attention and promote their products or services. The cost can vary significantly depending on a multitude of factors.

By gaining insights into promo video pricing, you can make informed decisions, effectively budget your resources, and ultimately maximize the impact of your video marketing endeavors.

Content

    How Much Does Promotional Video Production Cost?

    Cosmetics Product Video Example

    The cost of promotional videos can vary widely, typically around $4,000 to $15,000 or more, depending on several factors. Factors influencing the cost include the complexity of the project, the duration of the video, the level of customization required, and the production team’s expertise.

    Factors such as location shooting, professional actors, and high-quality animations can also contribute to higher costs. It’s essential for businesses to carefully consider their video production budget and objectives when planning a promotional video project to ensure they get the best value for their investment.

    Discover unbeatable value for your promotional video needs! Use our VidiFit Quiz and get an upfront cost for your branded videos, all for free!

    In need of video? Get a quick estimate
    Find the right type of video to meet your marketing goals and get an instant estimation on how much it would cost to produce it.
    Get pricing

    Key Factors Influencing Promo Video Costs

    Quality & Complexity

    The quality and complexity of a promotional video significantly influence its pricing. Higher-quality explainer videos featuring advanced animations, special effects, and sophisticated editing techniques require more time, skill, and resources to produce.

    Custom graphics, intricate visual effects, and professional-grade equipment contribute to increased production costs.

    Additionally, engaging top-tier professionals with specialized expertise in areas like cinematography, animation, and the post-production process has a huge impact on the total cost.

    Length & Type

    The duration and type of the promotional video play a pivotal role in determining production costs. Longer videos naturally require more filming, scripting, and editing time, leading to higher expenses.

    Similarly, the type of video—whether it’s an explainer video, commercial advertisement, product demonstration, or testimonial—can influence costs due to varying levels of complexity, production requirements, and creative approaches.

    For instance, creating promotional videos may entail more scripting and pre-production planning than a straightforward product demonstration.

    Location & Brand Positioning

    The chosen shooting location and brand positioning can significantly affect promo video pricing. Filming in multiple locations or exotic settings may incur additional expenses for travel, accommodation, permits, and equipment rentals.

    Moreover, aligning the promo video with the brand’s positioning may require specific visual elements, storytelling techniques, or casting choices, which can impact production budgets.

    Investing in an unusual venue and set designs to create a visually compelling backdrop that resonates with the brand’s identity may contribute to higher costs. Still, it can enhance the overall effectiveness of the video.

    Production Phases

    Promo video costs are typically divided into pre-production, production, and post-production stages, each with its associated expenses.

    Pre-production is the very foundation of the project, and it involves tasks such as concept development, scriptwriting, storyboarding, casting, location scouting, and scheduling. Production costs encompass expenses related to filming, including equipment rentals, crew wages, talent fees, and on-set expenses.

    Post-prod involves editing, sound design, color correction, voice-overs, visual effects, and music licensing, which require specialized editing software, skilled professionals, and additional time for revisions.

    Each phase of promo video production incurs its own set of costs, which collectively contribute to its overall pricing.

    Additional Costs

    Additional enhancements such as advanced editing techniques, motion graphics, 3D animation, and compositing affect the overall cost of a promo video. Licensing fees for sound design, music, sound effects, raw footage, voice-over, stock images, or graphics have associated costs.

    Moreover, tight deadlines or the need for multiple revisions may incur additional charges from the production team. Businesses must consider these potential costs when budgeting for their promotional video projects to ensure a comprehensive understanding of the total investment required.

    How Do You Assess Production Costs?

    Assessing the production costs for videos begins with utilizing our VidiFit Quiz, a comprehensive estimate tool that gathers specific information about the client’s needs, preferences, and project requirements.

    We [1] start by understanding the client’s objectives for the promotional video and identifying the target audience, desired message, and intended outcomes of the promo video campaign.

    Clients can specify the desired length of the promotional video and the level of complexity involved, considering factors such as animations, special effects, or multiple shooting locations.

    Additionally, clients are asked to provide details about any specific creative elements they envision for the video, such as visual style, tone, and branding guidelines.

    As you provide all the necessary information, we can give the transparent promotional video production cost for free!

    Read: How Much Does a 30-Second Commercial Cost?

    Freelancer vs Video Production Company

    Making Product Commercial

    Expertise

    Video production companies often have a team of professionals with diverse skills and experience in various aspects of video production, including scriptwriting, cinematography, and editing. This collective expertise allows them to tackle complex projects and deliver high-quality results.

    On the other hand, freelancers may specialize in specific areas of marketing video production but may need more breadth of expertise available within a full-service production company.

    Cost Considerations

    Freelancers may offer lower hourly rates, a huge difference from video production companies, as they typically have lower overhead costs [2]. However, it’s essential to consider the total project cost, including additional expenses such as specialized equipment rentals, talent fees, and other services.

    Video production companies may provide more comprehensive pricing packages that encompass all aspects of production, offering transparency and predictability in terms of costs.

    Flexibility

    Freelancers may offer more flexibility regarding project timelines and scope, as they can adapt to the client’s schedule and preferences more easily [3].

    However, explainer video production companies may have more resources and personnel available to handle larger projects or multiple assignments simultaneously, providing scalability and reliability in meeting project deadlines.

    Communication

    Freelancers may offer more direct and personalized communication channels, fostering a closer relationship with the client.

    In contrast, video production companies, such as project managers or account executives, may have structured communication processes in place to facilitate seamless communication and project coordination.

    Quality Assurance

    Video production companies often have established quality assurance processes and protocols to ensure consistency and excellence in their work. They may have dedicated quality control personnel or review stages throughout production to maintain high standards.

    While freelancers may deliver great video types, lacking formalized quality assurance mechanisms could pose a risk in ensuring consistent results across projects.

    Turnaround Times

    The turnaround times for projects may vary between freelancers and video production companies. Due to flexibility and autonomy, freelancers may offer quicker turnaround times for smaller-scale projects.

    However, video production companies may have more streamlined workflows and production pipelines, enabling them to handle larger projects more efficiently and deliver faster turnaround times, particularly for complex productions.

    Studio Selection Based on Budget

    Budget: $2,500

    Consider freelancers: With a limited budget, hiring freelancers may be the most cost-effective option and a better idea. Look for individual professionals who specialize in the specific aspects of video production you require, such as videography, video editing, or animation. Freelancers often offer competitive rates and flexibility in branded video scope and timelines.

    Prioritize essentials: Focus on the essential elements of your promo video project to maximize your budget. Prioritize tasks such as scripting, filming, and basic editing while minimizing expenses on additional services or elaborate production techniques.

    Budget: $4,000 – $15,000

    Evaluate mid-sized studios: In this budget range, you have more options to consider mid-sized video production studios. These studios typically balance quality and affordability with access to professional camera equipment, specialized lenses, experienced in-house personnel (a dedicated camera operator, director, voice-over artist, video editor, and production assistants), and a huge range of production services.

    Request quotes and proposals: Reaching out to multiple studios to request quotes and proposals for your project is a great idea. Compare their services, expertise, and pricing offerings to determine the best value for your budget. Look for a production studio that can tailor their services to meet your needs and objectives.

    Budget: Over $15,000

    Explore full-service production companies: With a larger budget, you can consider full-service video production companies that offer comprehensive solutions for your project. These companies often have special equipment, seasoned professionals, makeup artists, and extensive experience handling complex productions.

    Emphasize quality and creativity: With a higher budget, you can invest in higher production values, innovative storytelling techniques, and creative elements that can set your video apart. Focus on working with studios, prioritizing quality, creativity, and attention to detail.

    Seek customization and personalization: Look for studios that can provide personalized attention and customization to tailor the video production process to your unique vision and brand identity. Discuss your creative ideas, goals, and expectations with potential studios to ensure alignment and collaboration throughout the project.

    In need of video? Get a quick estimate
    Find the right type of video to meet your marketing goals and get an instant estimation on how much it would cost to produce it.
    Get pricing

    Benefits of Hiring a Production Company

    • Access to a team of experienced professionals with diverse skills and expertise.
    • Utilization of state-of-the-art equipment and technology to ensure high-quality results.
    • Streamlined project management and efficient workflow from conceptualization to polished video.
    • Assurance of brand consistency and alignment with marketing objectives [4].
    • Ability to scale services to accommodate projects of varying scales and complexities.
    • Peace of mind knowing that projects will be completed on time, within budget, and to the client’s satisfaction.

    Cost of Not Creating Promo Videos

    • Missed opportunities to engage and connect with target audiences through a highly effective medium.
    • Reduced brand visibility and awareness, resulting in decreased market competitiveness.
    • Limited ability to showcase products, services, or brand messages in a dynamic and engaging format.
    • Potential loss of revenue and conversions due to decreased customer engagement and interaction.
    • Inability to keep up with competitors actively utilizing video content to drive engagement and conversions.

    Why Work With Vidico

    Expertise

    At Vidico, our team brings a wealth of experience and expertise to every video production project. With years of industry knowledge and a passion for creative storytelling, our skilled professionals are dedicated to delivering high-quality results that exceed our clients’ expectations.

    From concept development to final delivery, we leverage our expertise to craft compelling narratives, stunning visuals, and engaging content that resonates with audiences and drives results.

    Comprehensive Services

    Vidico offers a full suite of comprehensive services to meet our clients’ video production needs. From the initial stages of concept development and scriptwriting to the filming and editing process, we seamlessly handle all aspects of the production process.

    With a professional approach, we work closely with clients to bring their vision to life, ensuring that every detail is executed precisely and creatively.

    Transparency & Communication

    At Vidico, we believe in transparent communication and collaboration throughout production. From the moment our clients reach out to us, we prioritize open and honest communication, keeping them informed and involved at every project stage.

    We provide regular updates, seek feedback, and encourage active participation to ensure our clients are fully satisfied with the final product.

    Value for Money

    We offer competitive pricing for our video production services, ensuring that our clients receive the highest quality results at a cost-effective rate. With Vidico, our clients can rest assured that they are getting the most bang for their buck.

    Additionally, we provide transparency in our pricing by offering our VidiFit Quiz for free, providing upfront and transparent pricing information to our clients from the very beginning of their project journey.

    FAQs

    How much should a 30-second video cost?

    A 30-second promo video can cost around $1,000 to more than $50,000. The cost varies based on production complexity, type, and overall quality.

    Considerations include scripting, filming, editing, and post-production expenses, adjusting prices accordingly to ensure the final product meets the client’s needs and budget.

    How much should a 1-minute video cost?

    For a 1-minute video, costs fluctuate around $3,000 or more depending on production requirements, creative elements, and customization levels.

    Expenses encompass script complexity, filming locations, and post-production editing, ensuring the final video aligns with the client’s objectives and delivers maximum impact within budget constraints.”

    How much does it cost to do a video advertisement?

    Factors involved, like length, production quality, and distribution channels, determine the cost of a video advertisement.

    Key considerations include video script development, crew size, location fees, and post-production editing, all contributing to the investment required to create an impactful and effective advertisement.

    What is the value of promotional videos?

    Promo videos offer substantial value by engaging audiences, conveying brand messages effectively, and driving conversions.

    Their significance lies in showcasing products or services, boosting brand awareness, and establishing connections with target audiences, ultimately leading to increased sales, conversion rate, revenue, and business growth.

    Key Takeaways

    Not all videos are created equal, but by combining captivating visuals, compelling storytelling, and strategic messaging, promo videos can leave a lasting impression, drive engagement, and inspire action.

    By considering factors such as production complexity, duration, and the production team’s expertise, businesses allow for strategic resource allocation, ensuring that every dollar spent contributes to creating engaging and effective promo videos.

    Take advantage of the opportunity to supercharge your brand with successful videos! Use our VidiFit Quiz and get a free estimate in less than 2 minutes!

    References:

    1. https://www.globenewswire.com/en/news-release/2022/08/12/2497652/0/en/Video-Production-Company-Vidico-Launch-Rebrand-To-Offer-Their-Customers-Clarity-Precision-And-An-Even-Higher-Level-Of-Communication.html
    2. https://www.linkedin.com/pulse/pros-cons-hiring-freelance-video-production-teams
    3. https://www.forbes.com/sites/jonyounger/2024/01/02/the-freelance-revolution-in-2024-23-big-trends-to-consider/
    4. https://www.investopedia.com/terms/d/digital-marketing.asp
    In need of video? Get a quick estimate
    Find the right type of video to meet your marketing goals and get an instant estimation on how much it would cost to produce it.
    Get pricing
    Stand out with advanced video marketing insights.

    Stand out with advanced video marketing insights.

    For free.
    Once a month.
    5-min read.

    The State of Video Marketing 2024

    Discover how 300+ top tech companies use video for...
    Unlock insights
    Book intro call

    Start with a free strategy session

    You can try us out, and see our approach before formal engagement. Really!
    Book an intro call