This step into retail will allow affiliates like Songkick to spread the word about concerts and allow users to track different musicians. Topspin will be able to offer artists’ merchandise, as well as concert tickets and other unique meetups and experiences. iTunes and Amazon will now have the ability to give and sell downloadable music by the artist that a user is viewing.
Another change is their new Indie Label Signup, which allows independent artists and labels to become partners with YouTube and share in the revenue when users listen to their music on their specific channel. They hope that this will allow artists to find the appropriate audience and create a career all via the use of YouTube.
At more than 800 million users and three billion daily views, the Google-owned platform will offer artists and other sites a broad range of audience members to reach with their specific product or music. With all these new features, YouTube appears to be heading in the direction of becoming the one-stop-shop for everything music.
What do you think of YouTube’s newest venture into the world of music retail? What effect do you think it will have on other platforms that are not multifunctional?