Hulu Founder Bows Short-Form Video Streaming Service21 Jan, 2015 By: Erik Gruenwedel
Jason Kilar’s Vessel.com launches with an invitation-only beta test
, a $2.99 monthly subscription streaming service catering to short-form video delivered to portable devices, Jan. 21 launched as an invitation-only beta .
Vessel is co-founded by Hulu founder Jason Kilar and former Hulu CTO Richard Tom, and reportedly financed by about $75 million in venture funding.
Vessel content categories include music, food and travel; beauty, science and vlogging; gaming, pranks and sports; comedy, ideas and pop culture, among others.
Vessel’s business model aims to compete with YouTube’s content channels and cast of characters and actors by combining subscription fees with advertising. Content creators earn about $50 for every thousand views. Content creators receive 60% of all subscription fees and 70% of all advertising revenue. Subscription revenue is based on a share of minutes spent watching a specific video.
“Vessel was created to serve as a critical, missing piece of the puzzle for content creators, with Vessel playing one part among many that collectively help creators achieve their dreams,” Kilar wrote in a blog post last December.
Kilar left Hulu in 2013 after launching the streaming service in 2007 — as an alternative to YouTube. Hulu, which is co-owned by The Walt Disney Co., 21st Century Fox and Comcast, launched SVOD service Hulu Plus in 2011. It named former Fox Networks distribution head Mike Hopkins CEO in 2013.