Last week, YouTube announced that it will stream two upcoming big music festivals, with sponsorship by Dell and AMD. YouTube will stream the first day of the sold-out Lollapalooza (early August in Chicago) on its front page. In September, YouTube will stream the Austin City Limits festival in Austin.
YouTube will feature a "Lollapalooza" week in connection with the festival, and has indicated that there will be a primary live stream of performances, and a secondary stream with interviews and coverage of backstage areas, enabling YouTube to showcase multiple artists each day. Videos from the festival will remain on the YouTube site for four weeks after the festivals. YouTube plans to integrate the streams with Facebook and Twitter feeds to promote interactivity.
YouTube's initial move into streaming music festivals was local favorite Bonnaroo in June, 2010. Since then, it's had sponsored music festival streams for two other, smaller festivals in California. Other sites have been streaming music festivals this year - Vevo streamed acts from this year's Bonnaroo festival, and NPR plans on webcasting this year's Norfolk Folk Festival and Norfolk Jazz festival.
Sources: "YouTube Starts to Look Like a TV Network," AdWeek
"Lollapalooza YouTube Stream: Site Will Also Offer Coverage of Austin City Limits," Huffington Post