I'm going to go against the grain and say it will probably cost a lot to make any sort of video worth making. Sure, you CAN shoot a video on your Sony camcorder and edit it yourself but it'll probably look unprofessional and nobody will really want to watch it. I close those videos after about 10 seconds and curse whoever linked me to it.
A good-looking video takes a good camera and good lighting, and most importantly somebody who knows how to set up and light a shot! This costs money.
And of course editing is important too, important beyond a stark amateur's ability to do it. It also takes foresight. You need to plan in advance how things are going to fit together so you can get shots at different distances and angles all in the same day of shooting or else you're going to be wasting a lot of time going back to shoot which might introduce unforeseen continuity errors too.
The exception to all this is if you have a REALLY good idea, like OK Go did.
http://www.youtube.com/watch?v=pv5zWaTEVkI
But if you're just planning to make a video of the band playing instruments, don't even bother unless you have some decent equipment and SOMEBODY involved in it has studied filmmaking.