Google has unveiled a new AI model for video generation, significantly reducing costs compared to previous solutions.
Veo 3.1 Lite is now available to developers via the Gemini API and Google AI Studio. Its usage costs are two to three times lower than those of the Veo 3.1 Fast version.
The model supports the creation of videos based on text and images in both horizontal and vertical formats. Users can choose between 720p or 1080p resolution and video durations of four, six, or eight seconds.
For comparison, generating a second of content with sound in the basic Veo 3.1 cost about $0.4. The Fast version is priced at $0.15 per second, while Lite costs $0.05 when using 720p resolution.
An eight-second video is created in less than a minute.
Notably, Google released this new solution and reduced video generation costs shortly after OpenAI shut down its Sora project. Although official reasons were not provided, experts attribute the decision to high service maintenance costs.
Meanwhile, Logan Kilpatrick, Head of Product at Google AI Studio, stated during the Veo 3.1 Lite presentation:
“Video is here to stay.”
Sora’s Closure Spurs Competition
A week after Sora’s closure, alternative AI generators like Kling AI and Runway have shown a confident increase in their user base.
The number of weekly active users of Kling AI from China’s Kuaishou Technology increased by 4%, reaching 2.6 million. Before OpenAI’s announcement, the project already led in monthly audience: in March, it had 7.8 million compared to Sora’s 4.7 million.
Competing platforms Runway and Vidu also recorded a 1% increase in weekly users.
Sora was launched as a standalone application in autumn 2025. Initially, it generated significant buzz due to its user-friendly interface and social features. However, its popularity proved short-lived: since the beginning of the year, the number of monthly active users has steadily declined.
The exit of a major player opens new financial opportunities for Kling AI. A week after OpenAI’s announcement, the Chinese company informed analysts that it expects more than a twofold increase in annual revenue.
Back in February, Kuaishou introduced the third version of the Kling AI video generator.