Production value is a term used in video production to refer to the overall cost of the shooting and editing of a production. It’s basically a way of gauging how professional a video looks. Things like set design, costumes, special effects, and talent play a role on whether a production has high or low production value. A somewhat similar word would be “budget” but they don’t exactly mean the same thing. Videos that are flashy, grandiose, and well polished are referred to as having “high production value.” Whereas smaller profile videos that look amateurish, with less flair and polish are thought of as having “low production value.” Generally, a higher budget will result in higher production value, but that’s not always the case.
Although it would be ideal to have high production value in every single one of your projects, the term is extremely relative. A feature film and a thirty second video ad can both have high production value and the budget and materials used would be substantially different. Also, it’s also not always beneficial to go all out on your video. If all you need is to train employees on internal company practices, it wouldn’t make sense to hire Russell Crowe to act in it (despite how awesome that would be.) A good rule of thumb when looking into production companies is to keep an eye out for how “professional” their work looks. My company specializes in small to medium budget videos that look high budget. If you don’t believe me, check out our portfolio!