There had been speculation the pair would be ruled out of Sunday's match against Hawthorn for bringing the game into disrepute, but each player was instead hit with the maximum fine allowable under the players' code of conduct.
The video, featuring a rubber chicken in sexually explicit situations, drew widespread condemnation from women's groups and the AFL after it became public on Wednesday.
A club investigation found the video had become public as a result of the actions of a football department staff member, who had been counselled and officially reprimanded.
North Melbourne initially placed responsibility for the four-minute film on the whole playing group, but Simpson and Pratt confessed on The Footy Show on Wednesday night to being the most senior players involved in its production.
As well as fining the players, the club will make a $10,000 donation to a welfare organisation involved in caring for the victims of domestic violence and sexual abuse.
The donation will be funded by the playing group.
The AFL’s respect and responsibility officer, Sue Clark, will also attend the club and provide players and staff with a program of education and information concerning the respect and responsibility policy.
In a statement, the club reiterated its regret over the entire incident and apologised again for any harm caused.
The AFL Players’ Association said it considered the club's response appropriate.
