It’s the much talked-about startup with heavyweight founders and backers that could just mark the beginning of the end for YouTube as we know it – “Vessel” is getting ready to launch a website (and app) that promises to pay video creators far more for their efforts than Google’s platform ever has, and they’re proactively signing up YouTube celebrity names.
The idea’s simple; Creators sign a contract to deliver their videos exclusively to Vessel for a fixed period (minimum 72 hours) before releasing them elsewhere. In return, Vessel promises revenue that – they say – could be around $50 USD per 1,000 views (kerching! Yes please!). That’s a whole load more dosh than YouTube’s ad revenue split will ever provide.
Vessel says it’ll do this two ways. Firstly, the audience will have to pay $2.99 USD per month which Creators get a share of. Secondly there will be advertising but with a much greater revenue split towards the Creators: 70% versus YouTube’s 45%
The way the subscription payments will be doled out is a 60% share to Creators, divided up by their share in viewing duration (not views though, interestingly – it’s duration ie minutes watched).
Clearly the whole pay upfront proposition is only going to work for Creators who’ve established a rabid and substantial fanbase – people on the scale of PewDiePie, Zoella and the like*, those with at least hundreds of thousands of subscribers already.