Video Production Budget Template [Free Download]

Creating a compelling video is one of the most powerful ways to connect with your audience, but without a clear video production budget, it’s also one of the easiest ways to overspend. Whether you’re producing a brand video, explainer, or internal training content, a solid video production budget helps you plan strategically, manage costs, and get buy-in from stakeholders.

That’s why we put together this free video production budget template, a tool designed to help marketers, producers, and creative teams structure their costs clearly across every phase of production.

In this guide, you’ll learn:

• How to use a video production budget template effectively
• Which line items to include (and what they actually cost)
• How to structure your budget by stage or by type
• Tips for getting the most out of your video production services investment

What Is a Video Production Budget Template?

A video production budget template is a planning tool that helps you track, estimate, and allocate costs across all phases of a video project, from pre-production to post. It ensures that nothing slips through the cracks, helping you stay on budget, communicate clearly with stakeholders, and avoid costly surprises during production.

Whether you’re working with an in-house team or a video agency, using a standardized template saves time and provides structure for decision-making. A good template should include:

• Project name and scope
• Cast and crew lists
• Location and equipment costs
• Pre-production and post-production expenses
• Marketing and distribution costs (if applicable)

Templates are especially helpful for recurring projects, as you can adapt a base version for different formats, lengths, or campaigns. They’re also invaluable when seeking approval from finance or leadership teams who need to see the numbers laid out clearly.

How to Structure Your Video Production Budget

There’s no one-size-fits-all way to budget a video, so the structure should reflect your goals, scope, and internal processes. However, two tried-and-true approaches dominate the industry:

• By Production Phase (pre-production, production, post)
• By Cost Type (above-the-line vs. below-the-line)

Each method has its strengths depending on the complexity of the project, your familiarity with production roles, and how closely you need to track labor and creative expenses. Here’s an at-a-glance breakdown of the different video production budget structures to choose from:

Structure Type	Best For	How It Works	Common Use Cases
By Production Phase	Marketing teams, agencies, corporate video projects	Breaks costs down by the three major stages of video production: pre-production, production, and post-production	Product launches, branded content, explainer videos
By Cost Type (Above/Below the Line)	Larger-scale shoots, scripted projects, films	Separates creative leadership (above-the-line) from technical execution and support (below-the-line)	Commercial shoots, narrative content, multi-day productions

Budgeting By Video Production Phase

This method breaks costs into the three major stages of production, making it easier to assign responsibilities, compare estimates, and stay aligned throughout the process. Here’s a breakdown of the video production phases and the costs to expect at each stage. 

Pre-Production Budget

Covers all planning and preparation before the cameras roll. Typical line items include:

• Concept development and scripting
• Project management
• Location scouting and permits
• Casting, wardrobe, props
• Production scheduling and coordination

Production Budget

Captures the expenses of the actual shoot. Typical line items include:

• Director, camera crew, and talent
• Equipment rental (cameras, lighting, sound)
• Set design and on-site costs (meals, parking, etc.)
• Day-of logistics and contingency fund

Post-Production Budget

Includes all editing and finishing work after filming wraps. Typical line items include:

• Video editing and sound design
• Motion graphics or animation
• Color correction and visual effects
• Music licensing and voiceover
• Final deliverables and exports

Need more than just a video production budgeting template? Explore our full range of video production services and reach out, so we can get your project sorted. 

Video Production Budgeting: Above-the-Line vs. Below-the-Line

This approach, borrowed from the film and TV world, is useful when tracking talent contracts, union roles, or creative control. It’s particularly helpful when dealing with SAG talent or managing multiple departments.

Above-the-Line

Above the line in video production budgeting refers to the costs of making the video associated with the creative talent. This includes costs for:

• Director
• Producer
• Scriptwriter
• Principal actors or on-camera talent

These are typically fixed-cost roles, negotiated early and paid regardless of shoot duration.

Below-the-Line

Below-the-line expenses are the costs related to the more technical roles. In video production, below-the-line costs can include:

• Cinematographer, gaffer, sound mixer
• Production assistants, stylists, and crew
• Editors, VFX artists, colorists
• Equipment rental, permits, insurance
• Location fees, craft services, and travel

Below-the-line costs often scale with shoot duration and are more flexible.

Video Production Cost Breakdown By Line Item

No matter how you structure your budget, most video projects include similar core expenses. These costs can vary based on location, production scale, talent needs, and timeline, but knowing what to expect helps you budget more accurately and avoid last-minute surprises. ⁠Here’s what to expect across each stage of production — and why these line items matter.

Pre-Production Costs

These are your upfront planning expenses — often overlooked but critical to staying on track.

• Creative Development: Includes ideation, scripting, and storyboarding to define the concept and message.
• Project Management: Time spent coordinating schedules, booking vendors, and handling logistics.
• Casting & Talent Prep: Costs for finding and preparing on-camera talent, including auditions, contracts, and wardrobe fitting.
• Location Scouting & Permits: Researching, visiting, and securing filming locations (plus any required city permits).
• Pre-Production Meetings: Table reads, tech scouts, and internal planning sessions with your crew or agency.

Production Costs

These are the day-of expenses during the actual shoot, where most of the budget typically goes.

• Director & Key Crew: Includes the director, director of photography (DP), sound mixer, gaffer, and other critical roles.
• Camera & Lighting Equipment: Rental fees for cameras, lenses, lighting kits, microphones, stabilizers, and more.
• On-Camera Talent: Payment for actors, presenters, or internal team members appearing on-screen.
• Set Design & Wardrobe: Props, set pieces, costumes, and styling needed to match your visual aesthetic.
• Meals & Incidentals: Crew catering, parking fees, transportation, and small but necessary on-set items.
• Contingency Fund: A flexible line item for unexpected needs like weather delays or forgotten props.

Post-Production Costs

These bring your footage to life, where editing, design, and finishing polish happen.

• Video Editing: Cutting together raw footage, syncing audio, and shaping the narrative arc.
• Motion Graphics & Animation: Custom animations, lower thirds, branded transitions, or explainer visuals.
• Color Correction & Grading: Adjusting footage for consistency and giving it a stylized, professional look.
• Sound Design: Cleaning up audio, mixing in music, balancing levels, and adding sound effects.
• Revisions & Final Delivery: Includes client feedback rounds, final exports, and formatting for various platforms.

Optional: Marketing & Distribution

If your video is part of a larger campaign or public-facing effort, consider adding:

• Thumbnail & Preview Assets: Custom stills, animated teasers, or short videos for the eight-second attention span.
• Hosting & Ad Spend: YouTube ads, LinkedIn campaigns, or paid distribution budget.
• Captions & Subtitles: Accessibility support, transcription, and translation services.
• Press or Partner Support: Media kits, PR services, or outreach for launch support.

So, How Much Does Video Production Cost?

The average video production costs upwards of $10,000, but depending on the complexity and scale of the project, prices vary greatly. The biggest pricing factors come down to your concept, timeline, team, and technical needs. Here’s a look at what drives the cost of a video:

• Creative Scope: A simple talking-head interview is far less expensive than a scripted brand film with storyboards, set design, and custom visuals.
• Talent & Crew: Hiring actors, voiceover artists, or a full production crew will increase your budget, but boost overall quality.
• Locations & Travel: Remote locations, travel days, or permit-restricted venues can significantly impact cost.
• Equipment: Advanced camera packages, lighting setups, drones, or specialty gear add to the bottom line.
• Post-Production: Motion graphics, animation, sound mixing, and revision rounds all affect the final price.
• Deliverables: Producing multiple versions for social media video campaigns, paid ads, or different audiences increases editing time and cost.

A lower quote may seem appealing, but always confirm what’s included and what’s not. Transparent line items help you compare bids fairly and avoid surprise charges.

Choosing The Right Agency For Your Video Production

As you reach out to video production agencies, you’ll likely notice a wide range of bids. Unfortunately, it’s not always easy to compare bids across agencies. To choose the right partner, it’s essential to understand exactly what’s included in the quote.

Be sure to ask whether the following are accounted for:

• Production fees
• Insurance coverage
• Talent casting and usage fees
• Hair, makeup, and wardrobe styling
• Crew catering and travel expenses
• Technical equipment rentals
• Set design, props, and art direction
• Post-production services (editing, color, sound, etc.)

A low bid may look appealing at first, but often omits key services that show up as surprise costs later. Most teams find it’s far better to know the full cost upfront — and avoid budget creep down the line.

Here are a few smart questions to ask when evaluating potential partners:

• What’s your pricing model? Do you charge by the hour, by the day, or offer flat rates for the full project?
• Do you have experience with our audience? Creating B2B videos for LinkedIn is very different from producing B2C content for TikTok.
• What capabilities do you handle in-house? Do you offer scripting, directing, camera operation, motion graphics, and post-production, or are some services outsourced?

The right agency will be transparent, aligned with your goals, and equipped to guide you from concept through final delivery.

Partner With a Creative Agency That Knows How to Budget Smart

At Covalent, we combine creative storytelling with strategic production to help you create impactful videos that align with your goals and your budget. Whether you’re producing a corporate brand film, a product launch video, or internal communications content, we guide you through every step of the process: planning, production, post, and delivery.

We’re creative partners who understand marketing, messaging, and what makes a video actually perform. Ready to bring your vision to life?