Factors that affect the cost of a video are endless. Sharing some common basic ones:

Type of video:

This is one of the most important factors that determines the cost of a video. A 3D video would cost more than a 2D animation video. A 2D video with more characters would cost less than a 2D video with lesser characters. Live action videos have different cost factors involved like location, equipment needed, etc.

Length of the video:

The calculation here is simple. A longer video will have a higher cost than a shorter one. A two-minute video literally has twice as many scenes as a one minute video.

Illustration Style:

A video using vector shapes and images takes less time and effort than a video that requires drawing and designing a character.

Voice-Over Artist:

Voice artists charge according to their versatility and experience. Also, the cost differs depending on the length of the script. A video that demands more than one voice artist, will incur a higher cost.

Timelines:

A video requirement that is urgent and requires burning the midnight oil will cost more than a video which has reasonable and fair timelines.