Lollapalooza, Austin City Limits to be streamed live
The two US festivals will be available to watch online
Next month's Lollapalooza in Chicago and September's Austin City Limits will be available
to watch for free on the video website.
Backstage interviews will also be broadcast in addition to the onstage footage and videos will remain on the site for four weeks after the festivals have finished.
Both festivals are celebrating milestones this year, with Lollapalooza, which runs from 5-7 August, turning 20 and Austin City Limits, which takes place from 16-18 September, celebrating its 10th anniversary.
It's not been announced which acts or how many stages at either festival will be streamed.
When YouTube streamed California's Coachella festival in April, viewers were able to choose between two different stages.
Eminem, Foo Fighters and Muse are among the acts playing Lollapalooza this year, with Kanye West, Stevie Wonder and Arcade Fire topping the bill at Austin City Limits.
Coldplay and My Morning Jacket play both events.
"For those of us who can't make it — we have YouTube," said Jane's Addiction frontman and Lollapalooza founder Perry Farrell in a statement. "Be a voyeur to this year's Lollapalooza. Watch as musicians offer their souls and the crowd devours them. You just may forget that you aren't really there."