The first ever YouTube Music Awards are starting...really soon at 6pm EST (streaming free). Which is cool! Jason Schwartzman and Reggie Watts are hosting, Spike Jonze is directing, and the likes of Lady Gaga, Eminem, Avicii and Arcade Fire will be making appearances.

The Music Awards showcase YouTube's desire to become a serious player in the music industry. Of course, stars like Justin Bieber and Psy can already credit YouTube for a lot of their popularity, but the site seems like it wants to monetize its music offerings more efficiently and create some sort of cohesive plan. Though nothing is public yet, the fact that YouTube created the Music Awards when, short films, documentaries, web series and countless other genres are represented on the site shows YouTube's particular interest in music and music videos. Let us know what you think of the Music Awards in the comments.