Whether you're developing a virtual reality game or app, or you simply need 360-degree content for your company's projects, it's generally best to hire a virtual reality company that already has the skills and equipment needed to make your vision come to life. Before you sign the contract, however, there are three things you need to discuss to minimize misunderstandings and ensure things go as smoothly as possible.
Fixed or Flex Pricing
One of the most important things you need to discuss with the production company is the pricing scheme. There are two type of pricing structures typically used in the industry: fixed and flexible. With fixed pricing, the company develops a quote based on your needs and budget, and the cost doesn't change during the project.
With flexible pricing, the company provides a general quote on the project cost, but the price may change during the course of production based on changes in the type of materials used to complete the project or the amount of time spent on any one aspect of the venture. For instance, the quote the company provides you might be based on the use of one type of camera, but if you decide you want to use better quality equipment, it will cost more. The project's final price will be adjusted to reflect the change.
Fixed pricing is better for people who are operating on a budget and don't have a lot of room for surprise costs. While the amount you pay remains locked, you may be limited in the amount of adjustments than can be made during production. If you're more concerned about the quality of the end user experience and have a pretty large budget to work with, then flexible pricing may be a better option that ensures the production company can make any necessary adaptations on the fly to achieve the desired end result.
The last thing you want is to have your project stall because of money issues, so it's essential you hash out this point as early in the process as possible.
Provision of Third-Party Resources
Another thing you want to discuss with the production company is who will be providing and covering the cost of any third-party resources that may be required. For instance, if actors are needed to do voiceover work, you need to determine whether the production company will locate and pay the talent or whether you will.
There are a lot of benefits to having the VR company take care of acquisition of third-party resources, such as saving time, ensuring those resources integrate seamlessly with the final product, and avoiding copyright and legal headaches. On the other hand, you can save money by negotiating separate contracts for resources, and you'll increase the amount of control you have over their quality. For example, the company may hire a voice actor who charges between $100 to $500 per hour for the work, but you might be able to find someone who will do the voiceover for free.
It's important to honestly consider how much time and effort you want to contribute to the production of your VR content and whether you have access to the right resources needed to get the job done, then choose the option that best fits your situation.
Not all VR production companies handle the distribution of the final project, but some do. This can be an invaluable service, particularly if you're new to the industry and not sure how to get your VR product into your customers' hands. However, this service does come at an additional cost, so it's important to factor that reality into your budget.
If you do want the company to handle distribution, be sure to work out which channels you want it to pursue and how much you're willing to spend on campaigns to build awareness. Add these and any other agreements to your contract.
For more tips on working with a VR production company or to get started developing your project, contact a local virtual reality content provider.