YouTube will be investing a whopping amount to give the artists a career boost. It is speculated that the venture is a digital asset creation. This came into existence after Apple Music created checkbook to fund the blockbuster videos and music productions for Coldplay, The 1975 and Drake. Now it is clear where all the money is moving. To begin with YouTube started small by making videos of upcoming artists through a training initiative named Foundry. The Foundry Workshops are created with upcoming music talent located in London and LA. The live videos will be broadcast on YouTube this week.
Similarly, another Foundry session is likely to be held in New York with upcoming artists that include The Chicago Kid and Germaine of R&B act. This is just the beginning of YouTube’s initiative. The online company has kickstarted talks with leading music business companies in the future weeks and will discuss deeper about the collaboration. During the meeting, it is expected YouTube will chalk out ways to promote the artists in a better way using their exclusive videos.
Artists will be provided with loads of benefits like the opportunity to promote their video on Web TV series in exchange for services rendered towards YouTube’s initiative. Apart from these benefits, YouTube will be providing the artists with post production and video production resources to shoot their videos. This will lead to YouTube opening their original channel to the music talent. The Original shows will collaborate TV-style production values, hi-spec and amateur broadcasting personalities like Lilly Singh and PewDiePie.
Now the question remains which figures YouTube is targeting. YouTube is all set to make it mammoth resources available to fuel the promotions of the record industry. Early this year YouTube acquired the $8m BandPage that is more related to the fans. YouTube will target the leading artists by offering all resources to create their exclusive videos, and even exclusive YouTube shows clubbed with promotion commitment and extensive marketing.
Despite the strategy, YouTube may find it tough to neutralize the intimidation of Apple Music. Spotify and TIDAL. YouTube is also negotiating with Universal Music Group with their long-term licensing deal as the previous deal has expired.