Google has announced the pricing structure for generating videos with its new Veo 2 artificial intelligence model. The company, headquartered in Mountain View, will charge users $0.50 (approximately Rs. 43) per second for video creation through its Vertex AI platform. Consequently, the cost for a one-minute video generated by the AI will reach $30 (around Rs. 2,600). However, it’s worth noting that this pricing is not uniform, as select YouTube creators will have the opportunity to use Veo 2 for the production of video clips for Shorts at no cost.
Details of Google’s Veo 2 AI Model Pricing on Vertex AI
On its pricing page, Google has clarified the fees associated with using its video generation AI model through Vertex AI. The cost for turning text prompts into videos via Veo 2 is set at $0.50 per second, a relatively high price compared to competitors who offer similar services at more attractive rates.
To break it down further, generating one minute of video will cost users $30, while an hour of video generation amounts to $1,800 (roughly Rs. 1,56,100). It’s important to highlight that the generated videos may not always adhere strictly to the specified prompts, and inconsistencies could render some content unusable.
In contrast, OpenAI, a leading competitor in the AI landscape, is providing users of its ChatGPT Plus subscription access to 50 20-second video generations using the Sora AI model for a monthly fee of $20 (about Rs. 1,950 in India). This pricing means one minute of video generation effectively costs around $1.20 (approximately Rs. 120), in addition to other features included in the subscription. Furthermore, Pro subscribers benefit from a higher yet unspecified usage limit.
Another competitor, Runway, offers unlimited video generation through a monthly subscription priced at $76 (around Rs. 6,590). In a similar vein, Pika Lab provides 6,000 video generation credits with its $76 monthly plan, which is the highest tier available. Users looking to create a one-minute video using the Pika 2.1 model will need 60 credits to produce a five-second video, leading to an effective cost of about $9.12 (around Rs. 790) for a minute of video.
There’s a noticeable trend where most competitors are providing video generation services at more affordable rates. However, it is essential to mention that these prices primarily reflect consumer-facing costs. In contrast, Vertex AI is predominantly aimed at developers and enterprises, and the pricing structure for commercial use of other AI platforms is not publicly available.
According to reports, Google has also hinted at potential video generation capabilities with its upcoming Gemini Advanced, which could be launched in the latter half of the year. Depending on usage rates and possible adjustments to subscription fees, this might present a more economical avenue for generating videos with Veo 2.
