How Much Do Virtual Events Cost?
Budget to High End Solutions
When it comes to hosting a professional virtual event, the question always begins with: how much do virtual events cost?
The truth is it depends on the what it is you want to achieve. Technical production for virtual events can start from around £2,200 and the cost can keep rising from there. So, we’re going to talk you through the different pricing levels from budget to high-end to help you make informed choices when planning your virtual event.
First, Make Check List
Before you contact a virtual event production company, the first thing you need to do is write down your requirements by asking yourself:
- Where you plan to host the event
- How many presenters will there be?
- Will there be a panel as well as the main presenter? If so, how many and will they be in the room, or will they be virtual?
- Do you need to host simultaneous events?
- What size audience do you expect?
- Do the audience need to participate in a Q&As, polls, games, chats?
- Will you also have an in-person audience – making this a hybrid event?
- Are you using PowerPoint and/or video content?
- Do you have any physical items that need to be presented, such as a car, machinery, or something else that requires floor space and detailed camera angles?
- Do you want to record the event for future broadcast and training?
- Will you require a set, stage and furniture?
- Does the entire room feature in the event, or is it just a single set and stage?
All of the above are key considerations when hosting a virtual event, as they determine the level of production and the cost of the live streaming platform.
Choosing a Live Streaming Platforms for a Virtual Event
One of the most pivotal elements of your virtual event is the streaming platform. The cost of this is entirely dependent on how you want to interact with your audience.
There are lots of excellent streaming platforms available, which offer different levels of engagement between the audience and the presenter. We cover some these platforms in our Guide on Producing a Virtual Event.
The type of streaming platform you use, must be determined by your event requirements. There is certainly not one platform that fits all, so it’s important to consider the desired outcome before obtaining any costs for your virtual event.
How to Reduce Virtual Event Costs for a Low Budget?
It is possible to keep your technical production costs down to below £3,000, but it takes a lot of pre-planning. So, if you’ve got a limited budget for your virtual event, here are some ideas for keeping the technical production costs down:
Involve your Technical Production Company Right from the Start.
Involving a team of technical experts early on means they can pass on their knowledge about formatting the event to meet your budget. They will be realistic about what you can achieve and the time frame that you need to organise a virtual event.
Get Quotes from Venues with and Without In-House AV and Rigging
When exploring venues for your virtual event, ask what AV and rigging equipment they already have in place. It might cost less to hire a venue with some basic kit, thus reducing your equipment hire costs. However, it’s also worth getting quotes from venues without an AV installation and including equipment hire in your technical production costs. That way you have a good comparison.
Before selecting a venue always check it is appropriate for your virtual event with a your technical event production company.
Present as Much of the Content Onsite
Although you are streaming to a virtual audience, this doesn’t mean that your presenters have to be virtual as well. You can keep the streaming costs down by asking all your presenters to attend the venue. If presenters take it turns to speak, you can also keep the cost of audio and lighting equipment to a minimum.
Simplify the Audience Experience
The basic virtual event package simplifies the viewer’s experience by providing the following:
- A single camera shot of the presenter, using one HD camera
- Switch full-screen view from presenter to the presentation
- Split screen view of the presenter and presentation
- Picture-in-picture view of the presenter and presentation. Picture-in-picture means one picture dominates the full screen, while a smaller window is overlaid.
Limit the Length of the Event
If you can limit the event to a day or half a day, you can reduce the costs further. It goes without saying that the longer the event, the more the production costs will be.
Reduce Staging and Set
By limiting the amount of stage and set that is on view will help to reduce the technical production costs for lighting the room and stage.
Limit Audience Numbers
A lot of the low cost live streaming platform packages limit the number of delegates. The limits range from 100 to 50,000, so it’s important to understand how many people you expect to tune in before you start obtaining your virtual event costs.
Virtual Events with Audience Participation – Medium Range Budget
To help our clients manage their virtual event costs, we have designed an entry-level Q&A package for a medium-range budget. Prices start below £4,000. This type of technical production package is designed to promote audience interaction with the presenter and an expert panel.
This middle-range budget allows for a slightly more flexible presenting style. For example, you can have:
- One virtual presenter
- Three presenters on the stage
- Text and audio interaction with the audience
- Two cameras for multiple angles and switch between panellists
- Comfort monitors with speaker notes
You’ll also have a small team of experienced technicians and equipment hire. Note, there are added costs of staging and set, venue hire etc. which you will need to consider.
Premium Virtual Event Production for Higher Budgets
If you have a technical production budget that starts from around £8,000 you can expect a lot more bang for your buck. You can expect:
- Multiple virtual presenters
- Multiple presenters in the room
- Two-way video audience interaction
- Recorded event ready for post event editing
- 4 camera angles
- Full room lighting
- Comfort monitors with speaker notes
- A team of experienced technicians
- Equipment hire
The premium package for virtual event costs do achieve a much higher production level. Going up the scale, you can also have simultaneous virtual events. The delegates will be greet in a lobby where delegates can explore different seminars, chats with each other and network. Choose the right virtual event platform and you can also sell tickets and send automated email updates. Find out more in our Guide to Producing a Virtual Event.
How Much Do Virtual Events Cost? Other Considerations
While we’ve tried to give some indication of how much virtual events cost, from a technical point of view, there are other production costs that you will need to consider, such as:
- Set and staging
- Venue, accommodation, food and beverages
- Set-up and additional crew for any extra services that you may specify
- Additional room lighting, projectors and screens (if required)
- Lighting for additional presenters
How TPP Can Help?
Creating affordable technical production options for virtual events is something we always strive to do. As a result, we work with venues to ensure that together we can offer a cost effective solution.
If you need help producing a virtual event planning, or you’re a venue that needs some general advice of how much virtual events cost, then be sure to contact us on 01264 889 934.