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I’ve always found this formula bizarre (speaking from a production POV). Productions costs are mostly all labor and people are expensive, as is their time. It costs the same to produce a :30 ad regardless of if it ends up on TV/broadcast, OTT, or YouTube.
The fastest way to manage creative services (and by extension production) costs is to be decisive. When you go rounds upon rounds of feedback and review that just racks up labor costs. In an economy where inflation is soaring, people are (rightfully) demanding higher wages, and there are enough people in the job market your overall production costs are likely to continue to go up.
I completely agree, limiting artist working time is a must to manage production costs. Having someone that can creative produce and understands both artist and client side is necessary for increased bottom line.
The rule of thumb in entertainment marketing is that if you’re not spending at least double your production budget on media buy you might as well not release your project at all because it’s going nowhere.
Oh this flip in perspective DEFINITELY makes sense!
So I’m relatively new on the brand side, and I am seeing a similar thing. In some ways I think it is good, because where in the agency world we would have to say things like, ‘oh we don’t have the budget to do video for that,’ it’s not an issue on the brand side. In other ways though, I don’t see the brand side being as thoughtful with how to take one concept or asset and make it work across multiple platforms and audiences with a few adjustments. Instead, there seems to be a mindset that everything has to be a net-new idea or piece, which is incredibly inefficient (and ultimately makes things feel very disconnected).