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13Mar

How much a typical promo video costs?

Stephen Bell | 0 Comments | | View Counts (314) | Return |

We thought that it's important to outline the standard costs of video production as many clients don't fully understand all the resources that are required to create a video. 

Typical Video Costs

The typical animated promo video costs anywhere from $3K to $10K a minute. $3K will get you a very simple animated promo video as it will barely cover the costs of producing the script, storyboard, voiceover and hiring an animator.

A good animator charges between $300 to $500 a day. If the animation is very simple a good animator can produce about one minute of content a week. At $400 a day that is $2K just to animate a simple project not counting any revisions.

Many of the people that approach Enveeo to have a demo video produced cannot afford a $5K video or they think it is too expensive. We think charging even $5K per minute is actually low considering the amount of work that goes into producing a high quality animation.

Even at the $10K per minute end of the scale, a promo video is orders of magnitude cheaper than a typical similar TV ad produced by a large studio.

Large studios charge anywhere from $100K to $400K or more to produce a 30 second TV ad.
Even at $100K that is about $3,000 per second of video compared to $170 per second for a one minute $10K promo video.
The difference is a whopping 18 times cheaper!

Again that is considering a cheap TV ad versus an expensive animated promo video.
So in reality the difference is usually 30 to 50 times less in price for a typical 1 minute demo video than for a 30 sec commercial.

I think value is a matter of perception so If the studio can make a client perceive their work is worth 20 times more and the customer is willing to believe it, so be it!

The question is. Do you really believe that any of the videos produced by Enveeo provide 200 times less value than a typical 30 sec TV ad (assuming the cost of an Enveeo template at around $200)? Of course not especially considering each of your client's receive a personalised video that talks directly to their own information. 

At Enveeo we are experts at creating outstanding promo videos at very reasonable cost.

On a $10K on minute ad this is how a typical budget would look like:

# Task Description Hours Cost/hr Amount
1 Project brief 4 $60.00 $240.00
2 Script creation 15 $60.00 $900.00
3 Illustrations 24 $60.00 $1,440.00
4 Animation 60 $60.00 $3,600.00
5 Video rendering 5 $30.00 $150.00
6 Voice over 4 $60.00 $240.00
7 Sound effects 4 $60.00 $240.00
8 Sound track selection 4 $60.00 $240.00
9 Stock images 1 $100.00 $100.00
10 Sound rights 1 $100.00 $100.00
11 Video Editing 8 $60.00 $480.00
12 Script revisions 8 $60.00 $480.00
13 Illustration revisions 8 $60.00 $480.00
14 Voice over revisions 4 $60.00 $240.00
15 Final edit revisions 4 $60.00 $240.00
16 Meetings/Phone Calls/emails 12 $60.00 $720.00
17 Video compression 4 $30.00 $120.00
18 Video upload and delivery 4 $30.00 $120.00
         
      TOTAL: $10,130.00

As it can be seen, a $10K video allows for certain amount of revision work which ensures the final product can meet the clients highest expectations.
When you try to cut corners and undercut your producer be aware that less time will be allocated to refining and the end product and quality will suffer accordingly.

All these costs are rough estimates. Hourly rates can vary considerably between animators. Stock images can get very expensive as well as sound track rights. Professional voiceover can add a lot to a budget if the voice over artist is famous.

I hope now you have a better idea of how much a typical promo video costs and why getting an awesome one minute video produced by Enveeo is a smoking deal!

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