The rule of thumb is one minute per page, assuming the page is formatted to conventional industry standards. Final Draft's default template conforms to these standards and can be relied upon to produce a page that translates to roughly one minute of screen time.
Of course, if you write action like "Perseus slays the sea monster," you're not going to be able to work off the one-page-per-minute formula.
Scripts for half-hour television shows, aka sitcoms, generally are considered to run at thirty seconds per page.
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