Former Hulu CEO Jason Kilar shed more light on his new venture, Vessel, announcing that the YouTube competitor will launch early next year and sell an “early access” subscription product that provides temporary exclusives to short-form videos for $2.99 per month, a “low price made possible by incorporating a modest amount of advertising.”
Kilar, who believes Vessel’s economic model will serve as a magnet for talent, noted that the new company is forming as he and co-founder Richard Tom “observed that the audiences so coveted by traditional TV were gravitating toward a new generation of digital storytellers," adding that Vessel is “eager to help recognize and foster the explosion of new, talented voices.”
He noted that most creators and content owners “put their content on the free, ad-supported web in the hope that they can create a sustainable business,” but end up earning “low, single-digit dollars for every thousand views their videos generate.” Other creators, he added, “feel the need to ‘graduate’ to another medium (e.g., traditional television) to make more money, leaving their digital audiences behind.”
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