Is YouTube Going to be the Next Music Label?

YouTube has an initiative called YouTube for Artists that intends to grow its influence in the music business, while lessening the power of record labels simultaneously.

The initiative includes providing direct markting intelligence to artists to help them connect with their fans. YouTube will reportedley offer “promotional programs” to help artists “get discovered” and grow.

According to insiders, data can be provided to help artists figure out where their biggest fans are located, and which venues could host the potential future stars.

YouTube is expected to participate in a panel discussion at Midem (a music festival and conference in Cannes, France) to discuss music efforts.  An executive during these briefings said “We’re going to disrupt the music labels.” Their power has been evident when looking at the many stars it has produced, like Psy.

The YouTube for Artists project is being managed by a former Beats Music product-management executive named Tjay Fowler.

Here is a snapshot of what YouTube for Artists includes:

• Fan funding buttons for bands to raise money they need to product music and videos
• Help locating fan concert videos and artists music in user-generated content
• Analytics showing the biggest concentrations of fans across the world so you can better plan upcoming concert tour dates

Even with this initiative, YouTube is under pressure to start producing profits as rivals like Facebook also move into this business.