Do videos cost $1000 a minute?
You’re not sure where, but you know you’ve heard it. You just want to know if it’s true, Do videos cost a $1000 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.
$1000 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. That means a $5000 video that is 5 minutes long, has a per finished minute cost of $1000. But a $100,000 video that is 100 minutes long also has a per finished minute cost of $1000. Which highlights the challenge of using a single equation as the sole factor in the cost of your video.
The actual cost of producing a video includes multiple factors like:
- the script
- the number of shoot days
- the size of the crew
- the number of talent
- the number of locations
- the amount and type of equipment
- the editing requirements
- and much more
As a general rule, the shorter the video, the higher the per minute cost. 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.
Saving Money On Your Next Video
There are certainly ways you can save money on your next video. (See this post of how to save 33% on your next video).
- You can share costs with other departments.
- Produce more than 1 video at time.
- Use transcripts to repurpose your video footage
- Make sure you have a rock solid Creative Brief
Yes, longer videos can have a per finished minute cost of $1000. Shorter videos can cost $1000 per minute, but they can also cost $10,000, $20,000, $30,000 or more per finished minute.
So back to your question, “Do videos cost $1000 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 answers@comprehensivemedia.com 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.