We all know that YouTube is the premier place to watch, share, create, and upload original or professional videos on the Internet. And with approximately 450 million people visiting the site every month, there is a great deal of potential to make money.
So what is YouTube’s next big push? E-commerce, of course.
YouTube already made a brief foray into the e-commerce realm back in May by giving users the ability to rent and watch movies through the site. But now YouTube is taking things further with plans to launch its very own Merch Store.
The Merch Store will give musicians the chance to sell tickets, songs, T-shirts and other merchandise directly through YouTube.com. A specific launch date hasn’t been announced, but Google, the owner and operator of the website, is working with a variety of existing companies and platforms to hasten its arrival.
Some of the companies Google is working with include Apple, Amazon, Songkick (a concert tracking service) and Topspin (a retail software platform). Through these partnerships, the Merch Store can take advantage of the successful infrastructures their sites already have in place. Plus, these arrangements make it possible for consumers to purchase items on YouTube that come through Apple’s iTunes or Amazon’s music service.
This is definitely a smart move, because according to the Internet Retailer Top 500 Guide, Amazon is ranked the number one retail web site and Apple sits comfortably at number three.
There have also been rumors floating around that Google may eventually launch its own digital music store, an entity that would inevitably become part of the Merch Store umbrella as well.
The goal appears to be to give consumers the broadest range of choices when it comes to buying music and merchandise from their favorite artists. And since YouTube gets such a massive amount of web traffic, this may end up being a wonderful opportunity to better monetize the streams of people who visit each month.
*Image provided by Christian Reed – Concert Co-Op on Flickr.
Executive survey: Learn what NE Ohio’s retailer decision-makers say about using social media for marketing in Fathom’s executive survey.