You’re not sure where, but you know you’ve heard it. You just want to know if it’s true. Do videos really cost $1,000 a minute? I mean, it would be great to know with certainty what a 3 minute video or a 5 minute video will cost. That’s the question for episode 72 of Video Answers.
Hi! Thanks for joining me for Video Answers, the resource with video production help for your business.
Do videos really cost $1,000 a minute?
The equation is simple enough. To get the per finished minute cost of a video, just divide the cost of the video by its final length. So a $5,000 video that is 5 minutes long, has a per finished minute cost of $1,000, but so does a $100,000 video that is 100 minutes long. Which highlights the challenge of using a fixed equation as the only factor for determining the cost of your video.
The actual cost of producing a video is based on the scope of the video and on a variety of factors like:
- shoot days
- and much more
As a general rule, the shorter the video, the higher the per minute cost and the longer the video, the lower the per minute cost. That’s because there are certain fixed costs regardless of the length of the video.
Yes, videos can have a per finished minute cost of $1,000 – if they’re longer, but shorter videos can have a per finished minute cost of $10,000, $20,000, $30,000 or more.
So back to your question, “Do videos really cost $1,000 a minute?”. The answer can be YES and/or NO. It all depends on the scope of your video.
If “it depends” sounds like a cop out or you have questions about the cost of your video, leave a comment below or send me an email to firstname.lastname@example.org and ask away.
Next time I want to introduce you to this man and share a question he asked 350 years ago that can help you decide who you should hire for your video. That’s next time on Video Answers the resource with video production help for your business.