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Old February 26th, 2008, 01:01 PM   #1
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What is this production worth?

I often read posts asking for help in determining how much to charge for a video project. It always seems to be a hypothetical video though that has yet not been produced.

The responses often say that it depends on your level of ability and your market. So rather than ask a "how much" for a hypothetical video, I have a real video that I submit for your consideration.

It is a training video for a piece of equipment used in a manufacturing environment. It is 10 minutes long. It can viewed here:

http://jeffemery.com/barberan

A high speed internet connection is recommended.

My question is for those who produce training videos who care to answer. If you were to produce THIS video with final delivery on DVD and VHS (1 copy of each) how much would YOU charge? For those that respond, would you also include your location so I can get an idea of how prices vary in different locales.

I am not asking for any critique. I'm merely asking what this video is worth in your neck of the woods.

Thanks

Jeff
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Old February 26th, 2008, 01:36 PM   #2
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$1000/finished minute is not all that uncommon.

Just my .02 worth.

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Old February 26th, 2008, 02:41 PM   #3
 
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People throw out the "$1000/ finished minute" quite easily, but it's far more complicated than that. The content, the complexity of capturing it, and posting are what have a greater impact on the cost.

You could easily quote a 10-minute project at $10,000 and find yourself 100% short of actual cost. Then what?

That was a very straight forward video, shot in one location. From what I saw, it was hardly worth $10,000.
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Old February 26th, 2008, 03:24 PM   #4
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Jay,

I agree with you totally about pricing not being so simple. But that is also why I posted a link to an existing video and asked based on that video, with any and all of its strengths or weaknesses, what would you charge in your area. I know in my area that no client would be willing to pay that much for that basic, straight forward training video.

There is no right or wrong answer. And I have no illusions about it being one of the greatest training videos ever produced.

I'm just trying to get some honest opinions about the what other video producers would charge to produce that video.

What would you charge?

Jeff
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Old February 26th, 2008, 04:05 PM   #5
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This is how I would see it breaking down.

1 day shoot 800-1200 probably the low end without sound.
script - 500, although I'm guessing with something technical like this they probably supplied it so probably a script consultation of 100.
Narration - 500, although you narrated it yourself so wiggle room.
Music - 250
2 days edit - 2400
20% mark up for odds, ends and cushion.

So my estimation would be in the 5-6k range for this project. Cut out the scripting and narrator costs and I'd be looking at 4-5K.
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Old February 26th, 2008, 04:13 PM   #6
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Here in Western Minnesota, I'd have bid about $3k-$4k for that video, assuming it was well defined before production began. If they had a production comapany come out from Minneapolis, it would probably run $7,500 to $10k.

Here's a pair of videos I shot for a total of $1,500 (but it was for a non-profit.) I didn't make any money on that project.

http://www.famousdavispro.com/page/ccs.aspx
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Old February 26th, 2008, 04:42 PM   #7
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Quote:
Originally Posted by Jeremy Doyle View Post
This is how I would see it breaking down.

1 day shoot 800-1200 probably the low end without sound.
script - 500, although I'm guessing with something technical like this they probably supplied it so probably a script consultation of 100.
Narration - 500, although you narrated it yourself so wiggle room.
Music - 250
2 days edit - 2400
20% mark up for odds, ends and cushion.

So my estimation would be in the 5-6k range for this project. Cut out the scripting and narrator costs and I'd be looking at 4-5K.
I'd consider that pretty reasonable.
Just to add another perspective, for everyone, I'd bid as follows:
1 Day shoot - basic HD camera (HVX200 or HD100, etc...) + lighting: $600-800
Script - $500-$1000 unless they supplied it (giving space for several re-writes once they hate the first two versions).
Narration - $500
Music - $250
1 day editing - $400
1 day visual effects - $400
100% markup for profit/cushion.

...which would also put me in the $5,000 range.
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Old February 26th, 2008, 05:27 PM   #8
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Yep - $5K - saving factor was single location.
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Old February 26th, 2008, 05:38 PM   #9
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Gotta agree with Greg, $1000 per finished minute is what I charge. That rate is fairly common.
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Old February 26th, 2008, 05:55 PM   #10
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I'm more in line with Jay - while $1,000 (up to 2,000) per finished minute may be a rule of thumb, it shouldn't be the basis for pricing an actual product.

In Jeffs example it was one location, few set-ups, no location sound and I may be wrong, but it didn't look like there was supplemental lighting. There was a straightforward script and shot list and not much need for fancy editing, tough editing decisions (since it was pretty step-by-step) or graphics other than CGs.

That 10 minute finished product cannot compare with another 10 minute video that has multiple locations, location sound, location lighting, on camera interviews, lots of editing of the interviews to get a smooth story, complex script, travel, high end graphics etc.

$1,000/min taken as gospel screws your client in some cases and screws you in others. If it screws the client, you (and perhaps you collegues in the area) won't get repeat business. If it screws you, you can't survive (or maybe you deserve it! ;-)

My $0.02!
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Old February 26th, 2008, 06:45 PM   #11
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Quote:
Originally Posted by Mark Bournes View Post
Gotta agree with Greg, $1000 per finished minute is what I charge. That rate is fairly common.
Are you saying you charge a flat rate of $1k/minute or do you find that's what your quotes average out to be?
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Old February 26th, 2008, 07:23 PM   #12
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I'm not saying this is the rule of thumb, each situation/job is different, but as a guideline, a $1000 per finished minute is fairly standard. I was only agreeing with Greg based on my experiences as well.

I'm getting ready to do a 30 and 60 minute dvd and I have to budget accordingly based on what the client is trying to achieve. Now granted you could say in theory this would cost 90k based on my earlier statement, but like I also said each job is unique.

Ultimately there are a lot of factors that go into budgeting, but for $30,000 for a 30 minute show/dvd you can still make some $$$$ depending on how much work has to go into the project. If you charge $30,000 and you have to travel to 4 different lo-cals around the world, hire 4 shooters, sound guys, producers, editors, lawyers and so on...$30,000 may not be enough.

On the other hand if it's you and maybe a grip shooting the entire thing, and editing it yourself, then maybe you can do it for $15,000 and still make money.

Each situation is unique.
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Old February 26th, 2008, 07:43 PM   #13
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I appreciate the input.

Jeff
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Old February 26th, 2008, 07:53 PM   #14
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Jeff, I'm a fellow 419'er I grew up in Toledo, How's that snow?
I went to CCHS and UT. I still have a ton of family and friends there.
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Old February 26th, 2008, 08:13 PM   #15
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In my area, which is about halfway between Toledo and Ft Wayne, IN, we got about 8 or so inches over last night/early moring today. Nice packable stuff great for building snowmen.

It's snowing again now but the prediction is for less than and inch more.

Here's a winter time joke.

What's the difference between a snowman and a snowwoman?

BTW, I use to be a 305'er. That is until they changed the area code for Vero Beach.

Jeff
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