Is It Too Late To Start a Video Production Company

Is it too late to start a video production company? I started mine 8 years ago and I thought the same way back then.
Going back 15 years though, when I graduated from film school, the market was not very saturated. The cost of entry back then was still pretty high. You can do events and maybe some corporate projects, but commercial work was going to the big production companies.

But around 2010, when the DSLR really took over the market and YouTube education was getting pretty good, more people learned filmmaking and got into the market. And then, a new film school would pop up every single week.

So all of a sudden, everyone in their 20s started a video production company. But here’s why I think it’s still plenty of room in the world of video production.

First of all, video is growing exponentially. Far more than people learning how to make good videos.
So the jobs in video production are going to continue to grow for at least the next decade. Platforms like Instagram are moving away from photo sharing to becoming video platforms. The short format is exploding with TikTok and YouTube shorts and brands and businesses have no idea how to utilize these platforms.

Second, let me just break down the numbers for you. In the US, there are roughly 6000 video production companies. That covers film, TV, commercial and corporate events.

If we just look at commercial and corporate needs, let’s look at how many small businesses there are in the US.

There are roughly 31 million. Let’s just say only 10% could use or afford a video to market their business.

3.1 million divided by 6000 is 516. No one could handle 516 video clients. The goal is to get a dozen or so repeating clients. Land a couple of ad agencies and a couple of Fortune 500 companies, and you will have a bigger video company than most.

Just based on those numbers, there is a huge amount of growth.

Thanks so much for watching. Please give this video a thumbs up and subscribe to this channel for easy to follow filmmaking videos.

Subscribe here: https://www.youtube.com/user/N....ewSlateFilms?sub_con

If you want to turn your freelance business into a video production company, check out Video Production Accelerator.
https://www.filmmakingmentor.com/