Collective today named Videography the standout category of Business-of-One for 2024, citing its superior profitability and growth trends and the independent nature of work as a great fit for the orientation of a Business-of-One.
By Collective’s estimates, through H1 2023, solo videographers had been on pace to generate an average of $290,254 in revenue last year prior to the SAG-AFTRA strike, the highest average among the categories of Businesses-of-One the company tracked. Collective predicts that the resolution of the labor stoppage will return the sector to the strong growth trend in place previously.
As a solo venture, videography offers creative control, flexible working conditions and access to a wide range of projects, appealing to the modern entrepreneur. For creatives, this autonomy not only enhances job satisfaction but also allows for agile adaptation to market trends and client needs—a key competitive advantage.
Increasingly affordable, high-grade equipment and editing software is empowering solo videographers to produce content that rivals studio productions, opening doors to lucrative opportunities previously limited to larger companies. Growing demand for video content across every industry, coupled with advancements in technology to speed work, provide a fertile ground for sustainable business growth.
According to research from Wyzowl, 91% of businesses used video as a marketing tool in 2023. The trend toward video, coupled with the easing of Hollywood labor strife, makes 2024 look particularly good for videographers.
- Prior to the SAG strike, videographers as group a showed a consistent increase in revenue, marked by an 8% growth rate from H1 2022 to H1 2023, according to Collective’s B1 Economic Report1. This steady growth underscores growing demand for videography services.
- Despite a significant rise in expenses (24% from H1 2022 to H1 2023), videography businesses maintained healthy margins (35% in H1 2023). This resilience in profitability, even with increasing costs, highlights efficient business models and strong market positioning.
- Collective’s members’ run rate growth through H1 2023, indicating how revenue might trend without headwinds due to the Hollywood strike, shows a positive trajectory, suggesting promising future prospects for solo videographers.
“As little as five years ago, many of my prospective clients were weary about video – they either didn’t want to see themselves on camera or they underestimated the reach. But as Tik-Tok and Instagram Reels have gotten more popular, those fears have flown out the window,” said Collective member Jason Polevoi, a videographer based in Illinois who founded One City Films in 2017.
“My ability to conceive of an idea, film it effectively, edit ASAP, and deliver a unique piece of content that can be used in multiple ways, across numerous platforms is invaluable to my clients potential to reach their audience and my capacity to run a thriving small business.”
The information in the H1 2023 Collective B1 Economic Report is based on aggregated operating expense and revenue data derived from a sample of ~700 Businesses-of-One from January 2022 through June 2023, calculated with an estimated 98% accuracy due to some fluctuations with data availability.