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Arcade Fire to Headline First Annual YouTube Music Awards the last few years, YouTube has played a role in the discovery of numerous musical acts, and streams on YouTube now count toward chart numbers on Billboard.  It's no wonder the site has decided to start holding its own annual music awards. 

The first-ever YouTube Music Awards, featuring performances by Arcade Fire, as well as by Eminem and Lady Gaga, will be held November 3, live streaming globally beginning at 6 p.m. ET.  According to Ad Age, there will be six categories in all.  Nominations will be announced October 17, and they'll be based on the most popular videos over the past year. Then, it's the fans who'll determine the winners by sharing the clips across social media.

Actor Jason Schwartzman will host the event, while music video and feature film director Spike Jonze will be the event's creative director.  In a statement, Jonze said, "We're setting out to create a night that's all about making things and creativity in the spirit of everyone that uses YouTube. As well as giving out awards, we'll be making live music videos. The whole night should feel like a YouTube video itself. We're getting together a group of amazing artists and filmmakers to do this live -- tune in to see what happens live."

In addition to Gaga and Eminem, some of YouTube's biggest stars will also perform at the event, which will tie together happenings in Seoul, Moscow, London and Brazil, culminating in a live event in New York City.  Of course, you'll only be able to watch it on YouTube.

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