Google Launches Low-Cost Video Model Veo 3.1 Lite at $0.05/second for 720p, Fast Version Price Drop on April 7

According to monitoring by 1M AI News, Google has released Veo 3.1 Lite, positioned as the lowest-cost video generation model in the Veo 3.1 series. This model has the same generation speed as Veo 3.1 Fast but costs less than half: $0.05 per second for 720p and $0.08 per second for 1080p, making the cost of generating an 8-second 720p video $0.40. In comparison, the current price for Veo 3.1 Fast is $0.15 per second for both 720p and 1080p. Veo 3.1 Lite supports text-to-video and image-to-video generation, offering both landscape (16:9) and portrait (9:16) formats, with resolutions covering 720p and 1080p (4K is not supported). The duration options are 4 seconds, 6 seconds, or 8 seconds, with costs calculated based on duration, and audio generation is included by default. Google also announced a price reduction for Veo 3.1 Fast starting April 7: 720p will drop from $0.15 per second to $0.10 per second, 1080p from $0.15 to $0.12 per second, and 4K from $0.35 to $0.30 per second. Veo 3.1 Lite is now available for use through the Gemini API and Google AI Studio’s paid tier.