"Production values" is a media industry term used loosely to describe the "polish" of any media product (television program, magazine, etc). For example, Entertainment Weekly magazine would be considered as having high production values due to its slick layout and expensive printing process. A zine that is xeroxed and stapled together would be its low production value foil.

Although budget and production values are related, one does not necessarily determine the other. For example, South Park is a television show with a sizeable budget, but the creators have made a conscious decision to embrace low production values.