Are you looking to produce video content in-house, but not sure how much it will cost?
You’re in luck! In this complete guide, we’ll break down the average costs of in house video production.
Plus, we’ll share helpful tips on how to keep your costs as low as possible. Let’s get started!
You Are Going To Need A Team
When it comes to video production, it takes a team of dedicated professionals to create high-quality content.
From the initial concept and scriptwriting to the actual filming and editing, each stage of production requires a specific skillset.
You’ll need to build a team that can handle all aspects of the process.
While it’s possible to do everything yourself, it’s not advisable if you want to maintain a successful business.
By focusing on your core competencies and leaving the content creation to others, you can ensure that your videos are of the highest quality while still meeting your deadlines.
Most successful content creation teams have at least these three positions. But how much does it cost?
To create high-quality videos, you are most likely going to need to hire a videographer.
Try to find a videographer who has a keen eye for composition and lighting. Another great skill to look for is storytelling or how to viewers engaged. This videographer is going to create content for your brand so make sure they have a filming style that suits your business.
So, how much does it cost to hire one?
The salary of a videographer can vary depending on experience and location. However, Glassdoor estimates the average salary at $47,908 in the United States.
Related: Find the Perfect In-House Videographer (40 Interview Questions)
A video editor is an important part of any video content strategy.
After all, they are responsible for ensuring that the final product is cohesive and entertaining.
While some videographers are also skilled editors, it is typically a separate role. As such, you will need to budget for both positions when putting together your team.
Fortunately, there are many qualified editors out there, and the average salary for the role is around $55,000 in the U.S (Glassdoor).
With a little bit of searching, you should be able to find someone who meets your needs and fits within your budget.
A content manager is a strategist and planner who determines the types of content that will be created, how it will be distributed, and how it can be used to achieve desired business objectives.
Related: The First 6 Videos Your Business Should Make (With Examples)
Content managers work closely with other members of the marketing team to ensure that content is aligned with overall marketing goals and messaging. They also collaborate with the creative team to produce high-quality content that meets audience needs.
In addition to overseeing the development of new content, content managers are also responsible for curating and managing existing content assets. This includes ensuring that content is accurate and up-to-date, as well as organizing it in a way that makes it easy for users to find what they need. By carefully planning and executing a content strategy, content managers can help their organizations achieve their marketing goals.
The average salary of a content manager is around $61,000 in the United States (Glassdoor).
Equipment Cost For In House Video Production
Assembling a team is only the first cost in creating a successful inhouse video strategy.
Once you have your team in place, you will need to invest in some camera gear. This equipment will allow you to capture the best possible footage, and it will also help you to create a professional-looking final product.
In addition to camera gear, you will also need to invest in other production equipment, such as editing software and sound equipment. By investing in the right tools, you can ensure that your video production company is set up for success.
Many people believe that they can get by with using their smartphone to film video content.
However, I believe that it is still worth investing in at least one decent camera. Smartphones are great for many things, but they lack the quality and features that a dedicated camera offers. For example, most smartphones have a limited range of lenses, which can be a major disadvantage when trying to capture certain types of footage. Additionally, smartphone cameras usually have lower image sensors, which results in poorer image quality.
As a very wide range, you can expect to pay anywhere from $1,000-$8,000 for your main camera and a lense or two.
Ultimately, if you are serious about creating video content for your business, then you will need to invest in a camera.
Two of the most popular editing softwares are Adobe Premiere Pro and Apple Final Cut Pro.
Both have a wide range of features and capabilities, but there are some key differences to take into account. First, Premiere Pro is a subscription-based program, while Final Cut Pro is a one-time purchase.
Final Cut Pro costs a one time payment of $299 that you can install on multiple Mac computers and Premiere Pro costs US$20.99/mo for individuals and US$35.99/mo per license for teams.
Second, Final Cut Pro is only available for Mac computers, while Premiere Pro can be used on both Mac and PC.
Ultimately, the best choice depends on your needs and preferences. Ask your editor which program he is more comfortable with.
Audio And Lighting Equipment
Audio equipment can range in price from a few hundred dollars to several thousand, depending on the quality and features you need. For example, a basic microphone might cost around $100, while a more advanced model with additional features could cost closer to $1,000. Likewise, studio monitors can start at around $200 per pair, but high-end models can cost several times that amount. When shopping for audio equipment, it’s important to consider your needs and budget to find the best value for your money.
Lighting equipment is also available at a wide range of prices. Basic LED lights can be found for as little as $20 each, while more advanced lights with features like dimming and color changing might cost $100 or more each. If you’re looking to save money on lighting, you might consider using household lamps or other existing light sources instead of buying new lights specifically for your content creation. However, keep in mind that using lower-quality lighting can affect the overall quality of your videos.
Overall, the cost of audio and lighting equipment for content creation can vary widely depending on your needs and budget.
Total Cost Of In House Video Creation
Producing video content is a big investment, but it can be worth it if you do it right.
If you’re willing to spend the money necessary to produce quality videos on a regular basis, you can easily see a return on your investment. Not only will your videos be more successful, but you’ll also build trust and credibility with your audience.
So, how much does it cost to bring video creation in house?
You can expect to spend at least 6 figures your first year implementing a complete video strategy.
I know this sounds crazy, but it can easily be worth it. When you factor the cost of everything by how many videos your business generates, the cost per video is relatively low.
Compared to working with a third party video company, where each video could cost thousands of dollars, you might be creating videos for hundreds each. That is a big difference in the long run.
However, when you hire a third party to produce video, you don’t need all of the upfront costs and new hires bringing video content in house would have.
If you want to compare the costs of outsourcing video creation to in house video, click here!
You should have a better understanding of all of the costs that goes into creating video content in house. Don’t be intimidated by the upfront costs, the results in the long term are worth it.