How to Plan Your Documentary Budget
If you’re looking to create a documentary film, you’ll want to create a planful documentary budget to keep expenses within limits while maintaining quality throughout the production process. Not only does a budget plan aid in the artful delivery of a documentary’s message, but it is also key to acquiring the needed funding from non-profits, crowdfunding or even grants.
But how much do documentaries typically cost? And are there ways to guarantee that your documentary stays within budget? This article will address these questions and how a professional video production company can guide you through creating the impactful documentary you envision.
How Much Does a Documentary Cost?
Video production can become a costly endeavor if not appropriately managed. Depending on the quality, platform and length, a documentary can cost anywhere between a few thousand to billions of dollars. Many refer to $1000 per film minute as a general starting point for budgeting purposes. However, depending on your hopes for the final product and the scope, creating a solid budgetary plan for your documentary remains essential.
5 Budgeting Tips for Documentary Filmmaking
While talk of expenses can make anyone a little discouraged, planning your documentary film is made easy with these straightforward budgeting tips.
#1 Know Your Story
First things first, create a treatment for your film. A film treatment summarizes the story that you wish to tell, including its assets, characters, scenes, and theme. With this information, you’ll be able to project the necessary investments and budget needed to see your documentary to the finish. According to a study performed by the Center for Media & Social Impact (CMSI), the main sources of funding for documentaries include foundation grants and personal finances. By communicating your project’s purpose and mission, a film treatment is an excellent resource when requesting funding from foundations, TV networks or individual donors.
#2 Budget in Sections
Once you have created a film treatment, it’s beneficial to budget your documentary in sections. These sections are generally considered the stages of video production, including strategy and development, pre-production, production, post-production and distribution. This budgeting method allows for easier forecasting of necessities and funds allocation. In addition, this method ensures each stage receives the budget requirements to maintain quality from beginning to end.
Keep in mind that production is the tip of your budgetary iceberg. Editing is the mass below the surface. You’ll want to be sure to budget for both finances and time so you can leave your editor plenty of time to tell the story you worked so hard to capture during production. Ultimately, documentaries are written in the editing room!
#3 Establish Ideal Timelines
Establishing timelines is essential to keeping a documentary film within budget. Try creating deadlines for not only the completion of the film but also each production stage. This will help prevent unexpected costs from spending too much time in one production phase. It will also ensure that your documentary reaches completion and distribution as planned.
#4 Account for All Expenses
Next, make sure to account for all expenses that your film requires to accurately project all budget expenses. While documentaries may not need advanced special effects or CGI, quality video production equipment remains a must. Other necessities may include professional guidance, transportation services, post-production editing, etc. Additionally, while we love the stories our clients tell, Once Films does not fund these projects. It’s important to keep that in mind as you prepare your budget.
Because the production team can end up being one of your biggest expenses, the amount of time it takes to make a documentary can be a huge budgetary consideration. Unfortunately, when clients conduct a Google search to explore the overall cost of creating a documentary, they often find search results that don’t reflect a realistic cost when it comes to people-hours. The truth is that this particular cost for a full-length documentary can total hundreds of thousands of dollars. Fortunately, if you’re well funded, these costs will come back to you in the end.
#5 Use a Budgeting Template
Keeping all this budgeting information in one place is essential not only for the outcome of the project but also for your peace of mind. If handwritten plans and spreadsheets motivate your creative process, all the more power to you! But if you find yourself overridden with manila folders full of loose expense sheets, there is a wealth of digital budgeting templates that will help you keep track of your documentary’s expenses and funding details.
Contact a Video Production Company
There you have it! These tips for documentary filmmaking should help your project live up to cost predictions, quality expectations and your inspirational vision. From creating a film treatment to pulling everything together with a budgeting template, there are many factors to consider when planning a documentary budget.
Anything can happen between strategy and distribution. In many cases reaching out for expert assistance is the easiest way to get started. Once Films has managed innumerable, successful documentaries within their respective budgets and would love to help your vision come to life on-time and within budget. Contact us about your new project today!