According to the Shade Room, YouTube already does a pretty swell job at discovering secret talents and making everyday people famous in the music industry but now YouTube wants to have an even bigger influence in music by becoming the next biggest music label!
In March, YouTube introduced a campaign to not only maximize its influence in the music business but to also lessen the power of record labels altogether. It’s called YouTube for Artists and it offers a slew of perks including providing direct marketing intelligence to artists that will help them better connect with their fans and offer promotional programs to help fledging artists get discovered and grow.
According to NY post, YouTube plans to provide their artists with:
Analytics showing the biggest concentrations of fans across the world to help plan tour dates.
Fan funding buttons for bands to gain the money they need to produce music and videos.
Help locating fans’ concert videos and use of artists’ music in user-generated content.
If done correctly, it’s predicted that YouTube could cut music labels out of a huge piece of theirbusiness by perks as simple as YouTube telling artists that certain data can help them get their song added to the radio by showing programmers how big their local fan base is. It’s so simple, but that’s normally a portion of what the record label is leaned upon for.
On the otherhand, Record company executives feel as though YouTube may be getting in way over their heads with this new concept.
“Labels are investing billions every year — it’s risk money on unproven talent,” one executive said. “Applying global marketing and artist development expertise can’t be replaced by algorithms and data scientists.
Well, YouTube seems to remain unbothered! A YouTube executive shared, “We’re going to disrupt the music labels.”
YouTube plans on talking about its different music initiatives at a panel discussion on Saturday at Midem, a music festival and conference in Cannes, France.