Conceived by former Hulu CEO Jason Kilar and CTO Richard Tom, the service offers exclusive access to video content from some of YouTube’s top stars and other bloggers for a period of up to three days. That means paying subscribers will get to see the latest web content and potentially be privy to the next viral sensation before anyone else (that isn’t a member).
Convincing people to shell out money for content that’ll be free for all just 72 hours later won’t exactly be easy although the company appears to be taking the right steps thus far.
Vessel has been recruiting some of YouTube’s top stars. In addition to the fact that their content won’t be associated with low-budget clips and hoards of junk smartphone videos, Vessel is paying content creators $7 for each fan they convert to a paying subscriber.
Combined with a mix of short-form advertisements, Kilar believes content creators could realize CPMs (cost per thousand impressions) of around $50. The average CPM on YouTube is just $2.20, according to the executive.
The site charges subscribers $2.99 per month but for the next couple of days, anyone that signs up will score a one year membership absolutely free. As of now, there are around 165 content creators on the site across a number of categories that should cater to most tastes.