It looks like YouTube is about to have some major competition in the new year. On Wednesday, ex-Hulu CEO Jason Kilar launched a brand new online video service called Vessel.
The main difference between Vessel and YouTube is that rather than focus on previously created content, Kilar's service will try and attract video makers to create content that can be viewed exclusively on Vessel with a subscription for a mere $2.99 per month.
While YouTube has become a hotbed for watching last night's late night clips and other borrowed content, it has also created a thriving ecosystem of so-called "YouTube stars." Kilar plans on giving these creatives, who produce content specifically for consumption on YouTube, a platform to show their work exclusively over a three-day window — before the clips become available anywhere else online. Because videos will come equipped with advertisements, video creators are expected to make $50 for every thousand views during that three-day window.
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Kilar's hope is that devoted fans of YouTube stars — and there are many — will pay a small fee to watch their favorite stars' latest creations before anyone else.
Vessel has already raised $75 million which has left YouTube on edge, according to The Wall Street Journal.
For now, Vessel is only available to video creators, but is expected to open to the public early next year. (Re/code )