You’ve decided you want an explainer video for your business, but want to know the bottom line for producing a highly engaging video that actually delivers results. We get it. It can be a timely task to contact every production studio for pricing and timeline. Not to mention, that a quick online search reveals dozens of studios that seem to do pretty good work. So how do you narrow it down to the one that’s going to offer an excellent video, for a good price?
A friend of ours, we’ll call him Joe, recently joined a startup. The start-up was looking for an explainer video, and so naturally, Joe reached out to several different explainer video production companies (including us) to get quotes. The responses he got from different companies was very interesting, and even better, he decided to share them with us.
We can’t keep this good of a secret to ourselves, so here are the goods you need to know to compare your options:
The Startup’s Explainer Video Requirements:
Length: 90 sec
Timeline: 4 weeks
Other information: Their script was already completed.
Example style: Something similar to 5Crowd’s explainer video.
Joe sent these exact same requirements to each of the explainer video companies. Let’s have a look at their quotes:
Cost of Production: $5,760
Wyzowl (Wise Owl) charges per each second of animation i.e. $64 per second. So they quoted for the required 90-second video, which ended up to be $5760.
Payment Structure: 30% upfront. 50% of the remaining amount to be paid upon approval of storyboard.
Cost of Production: $2,472
BreadnBeyond offers four different packages, each with its own sets of features. However, their prices of the packages are not listed on the website.
The video that the start up required fell under the “Advanced Package” and the quote was $1995 for one minute and after that, every 10 seconds would be charged at $159. So in total for the 90 second video, the price would be $2,472.
Cost of Production: $8,000 to $15,000
A quick look at Explainify’s portfolio reveals that they are likely one of the high end production agencies. The quote Joe received from Explainify was $8000 to $10000 per minute of animation, which roughly comes out to be $13000 for the required video.
Cost of Production: $15,000 to $20,000
If you search online for “explainer videos,” you’re sure to come across DemoDuck! Maybe its because of the brand’s popularity that they are able to command a higher starting rate. The studio was willing to work on the project if the budget was between $15,000 to $20,000. The timeframe of production for the video is 2 – 3 months.
Cost of Production: $15,000
Epipheo is another high-end explainer video animation company. Though the price they quoted was similar to DemoDuck, $15,000, they were happy to commit to a one-month deadline.
Yum Yum Videos:
Cost of Production: $6500
Yum Yum Videos has a great portfolio and is respected in the explainer video biz. So, naturally, Joe approached them for a quote for his video. Their quoted price was $6500 for a 90 second video. Yum Yum videos required 6-7 weeks for completion.
Broadcast2World or b2w:
Cost of Production: $3,295
Broadcast2World was able to offer Joe the 90 second video with custom animation for $3,795.
From this, it was evident that:
- Every explainer video agency had its own criteria of pricing.
- Most of the agencies require 6-10 weeks to do such a video.
- Having a script helps reduce the quote in some cases.
HOW MUCH DID IT REALLY COST TO MAKE THE 5CROWD VIDEO?
Our friend, Joe, knew the budget on 5Crowds video— We were able to create their video for **$3000**, and did it in 4 weeks. In the end, our friend convinced his bosses to work with us on their explainer video!
Every studio has their own style, quality, and price point. If you’re the boss, then the choice is yours. Hopefully, Joe’s research offers a snapshot of the market. If we’re the kind of studio you’re looking for, then let’s talk.
If you are not much of reader, we recommend going through this wonderful infographic: