How costly are video translation services? Some companies charge a lot, certainly for traditional video translation — especially if you are looking at major languages and standards of professional quality. Custom voice-over and subtitles: $1,000-$3,000 per minute of video depending on the complexity and target language This makes perfect sense in an era where huge-budget productions, such as those available on Netflix (which drops billions each year for its global localisation), are big business — and proves how integral — and expensive — translation can be when it comes to the international market.
Yet AI-powered video translation services provide a better and more cost-effective solution, slashing costs by 40-60% against traditional methods. It is even possible for small creators to have their videos captioned and translated in several languages, thanks to automated systems that platforms like YouTube employ to provide real-time captions. If necessary, with the help of automated services using technologies like automatic speech recognition (ASR) and neural machine translation (NMT), companies can scale their video localization efforts while saving on labor and time.
The best thing about it is that with the integration of neural machine translation in video translation services, costs have decreased tenfold making these services accessible to businesses from all price ranges. To draw a parallel consider how OpenAI, for instance, (by using >175 billion parameter models to enhance translation quality) reduces the requirement of human involvement saving businesses costs on editing. AI translation models have also driven 70% of content localization businesses to reduce costs incurred due to language services, showcasing how automated systems can provide value in more than one way.
Text-to-speech (TTS) also lowers the cost of deployments, as this technology can generate voice-overs without needing a voice actor — businesses save on average $500-$1,000 per finished hour of content when using TTS. AI-powered solutions like video translation services also have the potential to scale and make it easy for small and medium businesses to compete in multilingual markets without a huge overhead. Thanks to automation and process optimization, these services also provide an affordable solution for the localization of video content ensuring that neither quality nor accessibility is compromised.