Google has announced a price cut for its Veo 3.1 video-generation model, making AI video creation more affordable. This move follows the recent closure of OpenAI’s Sora platform. Logan Kilpatrick from Google AI Studio highlighted the significance of AI video content, emphasizing its continued presence in Google’s offerings.
In addition to reducing prices for the existing Veo 3.1 Fast tier, Google has introduced a new cost-effective plan called Veo 3.1 Lite. The Lite tier offers video creation at a lower price point, starting at $0.05 per second for 720p resolution and $0.08 per second for 1080p. This tier promises the same speed as the Veo 3.1 Fast tier.
Furthermore, Google’s AI Pro and AI Ultra subscribers can now generate a limited number of videos for free. AI Pro users have a daily limit of 3 videos, while AI Ultra users can create up to 5 videos per day.
The company has also reduced the prices of Veo 3.1 Fast, positioning it as the mid-tier plan below Veo 3.1 Quality. The cost per second for 720p and 1080p videos has been lowered, with a slight reduction in pricing for 4K videos as well.
Google’s decision to lower Veo prices aims to enhance accessibility for developers, especially in light of OpenAI’s platform shutdown. This strategic move could attract former Sora users to transition to Google’s Veo 3.1.
Despite the closure of Sora, the AI video-generation landscape remains competitive. Elon Musk has hinted at a significant update for xAI’s Grok Imagine model, while ByteDance’s SeeDance 2.0 has gained popularity with clips featuring iconic Hollywood characters. However, the latter model may not see a global release outside of China.