Budgeting for a livestreamed event may seem simple, yet every option may have hidden costs. Knowing what to expect before securing a vendor can keep your budget under control, which is essential for your projects today and an essential skill for all planners moving forward. This is exactly why award-winning agency Gradient Live created an easy-to-use budget calculator specifically for livestreaming production costs.
How much does adding livestream even cost? What bigger ticket items can bump up your budget? Get your answers by using Gradient Live’s budget calculator to scope your next project.
A few noteworthy call-outs:
How many speakers will you have?
The number of speakers and whether they’re joining on-site or remotely can impact your budget. A good standard is five speakers, understanding that adding more will hit your budget: Think $500 per additional remote speaker and $150 per additional on-site speaker.
Do your speakers need professional equipment or on-site assistance?
Keeping your entire show remote (all speakers pulled into the show from their own location) is usually less expensive than an on-site show (all speakers filming from the same space), but the energy in the room isn’t as powerful. And keep in mind your remote speakers may need support, thus additional costs. Speaker kits ($750 per kit) that include a remote camera, lighting, microphone and cables ensure a good remote filming set-up—essential for your execs or key speakers. Those high-caliber speakers may also need someone in the room to set up the equipment. Some shows may also require green screens ($450 per speaker) if you want a unified/branded look. These are just a few of the “hidden costs” many planners don’t consider when mapping their livestream production budget.
Do you need a rehearsal prior to the show?
If rehearsal and execution can be done in a day, there usually won’t be an additional cost. But if you’re asking to hold a rehearsal on a separate day, you’ll be charged for usage of the control room to the tune of $7,000. It’s a cost many might not expect, and it’s usually determined by your speakers’ comfort level and the complexity of your show (number of speakers, type of content, etc).
How many platforms will you stream to? Are you streaming to Facebook? Facebook and Instagram? Facebook, Instagram and your website? The streaming possibilities are many, and it’s good to keep in mind that if you’re streaming to more than one platform, it will cost you about $250 per added platform.
Do you need your chats moderated?
If you already have someone in-house to moderate your event’s chat, that alone can save you $950 on your budget. For more complex or larger livestreamed events, Gradient Live offers additional chat moderators to keep up with attendees.
What costs am I missing?
Costs that might sneak up on you include whether you need a copy of your stream mailed to you ($75), adding on custom design templates and graphics ($2,500), and adding remote speakers to an in-person event ($2,000). Catering, hair and makeup, as well as locations of your shoots, are all costs that should be factored into your budget too. For these types of costs, Gradient Live can work with planners one-on-one to devise how much of their budget to set aside.
While it may seem like there’s a lot to think about when including professional-level livestreaming capabilities into your event, creating a budget with these costs in mind will make the event planning and event itself run more smoothly.
