Music is a major driving force on YouTube. The amount of views music videos get on YouTube is staggering. It only makes sense then that YouTube finally capitalize on that popularity.

YouTube announced on Monday that it will host the first-ever YouTube Music Awards on November 3. Like any good awards show, it will bring together the biggest artists of the year in one place to perform for those who made them so popular on YouTube.

For its first annual show, YouTube has lined up Lady Gaga, Arcade Fire, Eminem and others alongside some artists that made it big thanks to YouTube – including Lindsey Stirling and CDZA. The show will be hosted by Jason Schwartzman and directed by Spike Jonze.

So, how is this all going to work? Starting October 17, the nominees will be announced on YouTube. From there, fans will vote for their favorites until the awards show on November 3. During the voting period, the nominees will start uploading new music, videos, interviews and more to court your favor.

We can only hope and pray that the YouTube Music Awards prove to be popular as it could be our redemption from the Grammys and VMAs. A music awards show that’s completely decided by the fans using the power of social media will be a sight to behold. It might even help inspire similar award shows.

[Image: YouTube Spotlight/YouTube]