Lyric videos are a great budget-friendly alternative to music videos. They are dynamic and excellent for the social media promotion of your music.
A lyric video can vary in complexity. It can either be just B-roll footage with subtitles over it or it can be an elaborate 2D and 3D animation with crazy transitions that incorporate the lyrics within the animation. Those are all things that will define how long a project will take to finish, how expensive it will and so on.