Production Budget and Timeline FAQ
When producing a live-action video, producers and filmmakers need to be fully prepared with what they’re filming before it actually begins. This not only prevents teams from wasting time but allows for budgeting, organisation and much more.
A video production budget usually comes first, before production has even been commissioned. Although it requires some skill to get right, if managed properly it can mean the difference between trouble and smooth-sailing from day one onwards. Budgeting covers the cost of talent, materials, set, location costs, transport, facilities, post-production costs and even pyrotechnics (we’re looking at you Hollywood action movies!).
Usually prepared by the Producer or Line Producer, a certain level of expertise is required to do a film budget properly. It’s widespread these days for productions to be budgeted using software packages that assist with relevant budgeting and scheduling processes.
During the budgeting process, a production schedule will need to be created. These two steps affect each other to such a level they are often prepared in tandem: change one and the other changes too.
When it comes to video production, Moonji believes that quality trumps quantity every time. Good video making is an investment, it lasts longer and converts better. Whether it’s an animation, advertisement, mini-documentary or soap opera – the scheduling and budgeting affects everything, from the script up.
Studies show that including a video on a landing page can increase conversion rates by up to 80% and when sending email marketing, videos can boost open rates by 19% and click-through rates by 65%.
Each timeline and budget is different, so here are a few frequently asked questions that are worth noting down before making any decisions that could backfire down the line:
What’s a realistic timeline to create my video?
- Is this DIY video making, or do you hire a freelancer, production company or creative agency like Moonji Production?
- Do you have enough time to have enough time for each step, from getting permits, to shooting, editing and re-shooting if necessary?
- If your deadline is soon, how much are you willing to pay for a quick turnaround?
- How far will talent and staff need to travel? What are their timelines like? Do they have other commitments?