WHAT TO CHARGE FOR PRODUCTION?
QUESTION FOR DAN O'DAY:
I am an aspiring production guy trying to start my own production company. But I am not certain if there is an industry standard in the price structure for charging clients that are interested in using my services. Is there a standard price for 60s/30s commercials? Also, what should I charge if someone wants me to cut a generic spot that will be used on various radio stations in multiple markets? And what should I charge if someone wants me to do a narration for a training manual?
There is no industry standard. Prices vary according to the individual market, client, and reputation of the production company.
Some studios post their prices. A few evenings of Internet searches should lead you to quite a few sites to research.
Another way to obtain such information is simply to ask the people who are doing what you want to do...albeit, probably, in different markets. If you don't already know anyone to ask directly, ask any radio friends if THEY know someone who has launched a production company; just about every radio person knows at least one such person.
Another option is to do some in-person networking at our annual International Radio Creative & Production Summit. (Hopefully you also would attend to learn a bunch of tools & techniques to use to boost your career.)