Video Answers. Episode 29.
You’re ready to begin your video, but accounting is asking, “What’s the payment schedule for a video production?” Well you’ve come to the right place, because that’s the question for this episode of Video Answers.
When it comes to the payment schedule for a video, each company has it’s own practices, but you can expect a fairly standard industry payment schedule which includes:
- As little as $2500 or 10% of the total cost of production 3 scheduled payment.
- 1/3 payment due on approval of the script
- 1/3 payment due on completion of principle photography
- 1/3 payment due on approval of the final video (less deposit)
In addition, any pre-approved add-ons are usually due within 10 days of receipt.
Remember, this payment schedule varies based on the production company, the terms of your agreement, and the size and scope of your project, but as a rule that’s the payment schedule for a video production.
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Comprehensive Media is an video communications company that brings businesses perspective through ideas, messages and stories.