We Love Live Streaming BUT How Much Is It Going To Cost?

Pricing out video production can be tricky.  Ask someone in the industry for help and you will likely get the typical answer..."it depends."  Not very helpful when you are planning a budget and trying to convince your boss or friends that this is an investment worth undertaking.  It is the main reason why so many Florida production companies don't advertise their prices.

It drives us crazy when we can't find pricing at a website.  Often we want to know if we are in the ballpark of affordability.  But pricing alone does not tell the story.  It is just one piece in a complicated puzzle designed to bring you the best possible experience within your budget range.  Our goal is to try to give you the philosophy behind how we arrive at your production cost - a range of costs that you may be looking at when it is time to make that decision.  We will look at our live web streaming service as just one small example.  However, keep in mind the philosophy is the same whether it is a wedding, quince or a testimonial video shoot.  

BASE PRICING - "Our Day Rate" (Live Web Streaming Service is our example)

First things first.  We don't charge by the hour.  We think it is petty and allows companies to nickel and dime you to death on every hour of service.  We are sometimes told that an event will only lasts one hour or the music show will only last for two hours.  That is excellent;  however, clients don't see all of the pre- and post-production activities that take place before and after your event ends.  Things like travel time to and from the shoot, color correcting the video in post-production, changing out a power point slide, answering emails, planning camera shots or even converting the files into something the client can use are all apart of your project.  In short, video production takes a lot more than a hour or the length of your event.

We have a base rate for all of our projects.  A base rate is defined as the minimum requirement needed in personnel, time, resources and assets to complete a 3 hour live web streaming project.  No matter whether your event is 1 hour long or 2 days long, there is a minimum cost associated with making a live web streaming project work for you.  While we may offer some price breaks or discounts based on your event, your live streaming project will always start at $1,500.00. 

WHY DOES THE PRICE KEEP GOING UP - "Add on services"

Base pricing contains minimum service requirements.  While minimum is good, it is not always the best choice for your project.  If we are preparing a quote for a formula racing event on a 2.5 mile-long race track, minimum won't do your project justice.  If we are preparing a quote for a 2 hour corporate meeting with a single presenter with music and 10 power point slides, minimum will do just fine. 

Live web streaming is a premium service offer by video production companies - so the more "TV style" you want your video production, the higher the cost will be.  Additional camera operators, additional personnel or additional equipment is the reason the price keeps going up - AND THIS SHOULD NOT BE VIEWED AS A BAD THING.  There is a reason why the Grammy's look so good on TV - there are many people and lots of equipment contributing to the final video production.  And while you may not have a "Grammy Budget," we can definitely find a budget for you that will allow you to have a great look with the right amount of personnel, equipment and assets. 

The image of your company, your brand and your event is your most marketable asset.  You want your live web streaming event to mirror the very best your company has to offer and this can't be done on the cheap.  However, live streaming has evolved to be accessible to just about everyone.  Never before in the history of video production has their been a time where affordable multi-camera live web streaming was within the reach of the masses.  Now is the time to take advantage of this opportunity.

LET'S BREAK DOWN THE PROCESS OF HOW WE PREPARE YOUR QUOTE AND THE TIME COMMITMENT NEEDED FOR YOUR EVENT

Initial Concept Planning/Meeting -

The first thing is simply getting on the same page with the client to make sure we’re producing what they need to meet their goals. At this point, we’ve likely already met or talked extensively with the client before preparing their video proposal, so this initial concept planning meeting can be between 1 to 2 hours and can be done in-person or over the phone. We do things like:

  • outline the approach to the video and who the target audience will be;
  • discuss with the client the subject matter, people involved in delivering the subject matter and raw video that must appear in the video;
  • discuss what tools are needed to enhance the production's on-air value (power point slides, music, panel discussions, chat room Q&A, etc);
  • discuss how many cameras, production personnel and equipment is needed so the target audience feels like they are at the event listening, understanding, interacting and enjoying every moment of the broadcast;
  • discuss internet service, availability and technical requirements to get your event online for the world to see.

Pre-Production

Next, we start to assemble all the things we’ll need during the shoot. This can take anywhere from 1 to 10 hours and includes time not seen by the client. Preparations include:

  • create any necessary shot lists (based on the concept meeting);
  • prepare on-air value assets (based on the concept meeting);
  • prepare equipment (checking/testing the camera, lights, media cards, tripod);
  • create the live web stream page where viewers will go to watch your event.

Live Video Shoot

The day of the video shoot is the most obvious to people because we’re "on-site."  Naturally, what we do is on display for everyone to see. It starts with us arriving 2 to 3 hours prior to your event to set-up all of our equipment, to maximize the placement of all of our equipment and to do the all important stress test of your internet line connection.  The stress test is the time we need to test, troubleshoot and diagnose any problems with the internet line connection that will allow us to get your event online.  Sometimes we can plug and go - but often, we will spend time with your IT department getting the most out of your internet connection for a trouble free production.

We often will recommend that we set-up and test the day before your event - allowing us another "business day" to troubleshoot any issues that may arise prior to the start of your event.  Once the event has concluded, 1 to 3 hours is need to tear down all of the equipment and return to our office.

Post-Production/Preparing Online Files/Curating Live web stream page

This is where additional time gets spent that the client never gets to see.  It is the other "it depends" variable mentioned above.  How much time gets spent in post-production varies depending on what the client needs and and the amount of video that that has to be inspected.  If you require us to re-edit all of the live stream video, then we have to edit video according to an approve script, add the relevant graphics, provide preview videos for the client to approve and discuss any minor changes needed.  If you require us to prepare your live stream video for You Tube or another online consumption platform, we will have to encode all of your videos to the online service you are using for your archives. 

Finally we have to give you a copy of all of the live stream videos (both the HD files and the live stream files).  This can take anywhere from 30 minutes to several hours depending on how long your project was live streaming.

Conclusion

Taking into consideration each of those phases...concept planning, pre-production, video shoot and post-production...most projects take 3 or more days to complete (not including multiple project days).  The average 2 day live web streaming corporate event can range between $2,000 and $4,000.  The average 1 day sporting, music or theater event can range between $2,000 and $6,000.  These are averages and your mileage & situation may vary.  However, we hope that this gives you a "ball park figure" to work from as you prepare your budget for your live streaming project.  Let us put a proposal together that works for you.