Vessel, from ex Hulu Executive Jason Kilar is looking to expand the original online video environment with a new platform called Vessel. Video Content Creators are already getting on board and Vessel launched into a Consumer Beta last Wednesday.
YouTube and the Content Creator Industry
YouTube has come a long way since it’s early years of short clips and cat videos. Throughout its 10 year history and dozens of updates YouTube has become a diverse content creation community as well as a social network.
By providing a platform for anyone to showcase their content, YouTube has provided the opportunity for many content creators to become YouTube partners. Creators can earn add revenue from monetising their videos. For many this has provided the opportunity to go full time in creating video content.
Entire content networks have developed over the years – somewhat akin to record labels. These networks support and promote individual channel’s content.
Top YouTube Networks – Via Socialblade.com
- Fullscreen – 34 Million Subscribers, 37197 Members
- vevo – 30 Million Subscribers, 3630 Members
- Machinima – 18 Million Subscribers, 14991 Members
YouTube video content is big business with millions being made annually by individual video creators. Top YouTuber PewDiePie reportedly has a potential income of somewhere between $4 Million and $19 Million from YouTube alone.
This is where many content creators are diversifying. While many have built up audiences on YouTube, there is nothing to stop them offering their content on other platforms as well. This way they can maximise their potential earnings from their video content.
Cashing in on Content Creation
Currently when monetising videos on YouTube, Google (owners of YouTube) take a 45% cut. However the click-through-rates on which revenue is earned is measured in the thousands.
Typically $2.50 per 1000 views of an ad can be earned. However this can vary from partner to partner and network to network.
Many YouTubers while creating popular entertaining and engaging content, gathering large audiences and plenty of video views find that making sufficient money off the effort can be very difficult.
This is where Vessel is hoping to step in.
All Aboard Vessel
“Watch your favorites here first”
This is Vessel’s offer to video content consumers. Based on a small monthly subscription few of $2.99 users can get access to their favourite video creator’s content before any other platform.
Video content will be released onto free platforms like YouTube later but there is a minimum hold period of 72 hours. So existing audiences shouldn’t be lost.
For video content creators Vessel is offering a potentially much more lucrative environment to publish content. 60% of subscription fees and 70% of advertising income will go to content creators. While estimates state that $50 per 1000 video views can be earned.
This offer has already proved popular with many big video content creators signing up including Machinima, Tastemade, UFC and many others.
Setting Sail with Vessel
The big benefit for consumers will be that content creators will potentially be able to produce more content more often at a consistent or higher quality with the extra income.
For those who don’t want to subscribe and pay for access, the content will almost certainly be made available on free platforms after a short while. No doubt some content will be made ‘exclusive’ earning a premium for the creator.
This platform of ‘pay for early access’ shouldn’t take much away from YouTube and other free video platforms, only delay the release of content while helping to raise the quality.
The challenge for Vessel will be whether enough video content creators sign on to make the service attractive to consumers.
Vessel is currently in Beta and you can sign up here.