How do TV production trends affect video production budgets?

1 Streaming services

One of the biggest trends in TV production is the rise of streaming services, such as Netflix, Amazon Prime, Disney+, and HBO Max. These platforms offer original and exclusive content, often with high production values and creative freedom. This means that they can attract more viewers and subscribers, but also that they can demand more from video producers. Streaming services often have higher standards for quality, delivery, and rights than traditional TV networks. They may also require more episodes, longer formats, or specific formats, such as 4K or HDR. As a video producer, you need to be aware of these requirements and negotiate your budget accordingly. You may also need to invest in more advanced equipment, software, or training to meet the expectations of streaming services.

2 Social media

Another trend in TV production is the integration of social media, such as YouTube, Instagram, TikTok, and Snapchat. These platforms offer new opportunities for video producers to reach and engage with audiences, especially younger and niche markets. They also offer new formats and styles, such as short-form, vertical, interactive, or live videos. However, social media also poses some challenges for video producers. For one thing, social media videos often have lower budgets and faster turnaround times than TV videos. They also have more competition and less visibility, as they have to compete with millions of other videos and algorithms. As a video producer, you need to be flexible and creative to produce social media videos that stand out and connect with your target audience. You may also need to diversify your skills and services to offer different types of videos for different platforms.

3 Diversity and inclusion

A third trend in TV production is the increasing demand for diversity and inclusion, both in front of and behind the camera. This means that video producers need to represent and include more people from different backgrounds, cultures, genders, sexualities, abilities, and perspectives in their videos. This can have a positive impact on your video production, as it can broaden your audience, enhance your storytelling, and improve your reputation. However, it can also have an impact on your budget, as you may need to hire more diverse cast and crew members, use more diverse locations and settings, or consult with more diverse experts and advisors. As a video producer, you need to be respectful and responsible when producing diverse and inclusive videos. You may also need to seek feedback and collaboration from the communities and groups you are portraying or addressing.

4 Technology and innovation

A fourth trend in TV production is the constant evolution of technology and innovation, such as artificial intelligence, virtual reality, augmented reality, and 360-degree video. These technologies offer new possibilities for video producers to create immersive, interactive, and innovative videos that can wow and surprise audiences. They also offer new efficiencies and solutions, such as automated editing, motion capture, or cloud computing. However, these technologies also have an impact on your budget, as they may require more investment, maintenance, or expertise. They may also pose some ethical, legal, or security issues, such as data protection, copyright, or privacy. As a video producer, you need to be curious and updated on the latest technologies and innovations. You may also need to experiment and test them before using them in your videos.

5 Sustainability and social responsibility

A fifth trend in TV production is the growing awareness and concern for sustainability and social responsibility, both among audiences and video producers. This means that video producers need to consider the environmental and social impact of their videos, and how they can reduce their carbon footprint, waste, and emissions. This can have a positive impact on your video production, as it can save you money, improve your image, and support your values. However, it can also have an impact on your budget, as you may need to adopt more sustainable practices, such as using renewable energy, recycling materials, or donating equipment. As a video producer, you need to be conscious and committed to producing sustainable and socially responsible videos. You may also need to communicate and educate your clients, partners, and audiences about your efforts and goals.

These are some of the trends in TV production that can affect your video production budgets. As you can see, they can offer both opportunities and challenges for video producers. The key is to be aware, adaptable, and proactive, and to plan and manage your budgets accordingly. How do you cope with these trends in your video production? Share your tips and experiences with us.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?