YouTube has announced today that they will hold their first-ever YouTube Music Awards on November 3rd. The event, which will take place at Pier 36 in New York City, will be hosted by actor/musician Jason Schwartzman. This first-of-its-kind event has set it sights on shaking up the traditional awards show format, and will surely be a captivativing event to experience. The 90-minute event, produced by Spike Jonze, will live stream on YouTube, and will award winners in six categories that will be solely based on viewer votes. Headlining the inaugural show will be Lady GaGa, Eminem, and Arcade Fire, along with more to be announced later. Check out the video below with host Jason Schwartzman detailing the November 3rd event.