On March 31, 2026, Google opened Veo 3.1 Lite, the most economical member of its video generation family, to developers as a paid preview via the Gemini API. The model supports text-to-video and image-to-video at less than half the price of Veo 3.1 Fast, producing 4-8 second clips in 16:9 and 9:16 aspect ratios at 720p and 1080p resolution.
In the same announcement cycle, Google also cut the price of Veo 3.1 Fast effective April 7. As reported by Marktechpost, the move targets low cost and high speed together; this drop in video generation cost makes high-volume ad variant production — particularly in 9:16 vertical social formats — economically more accessible.