YouTube partners using the Store, which is to be rolled out globally in the coming weeks, will be able to sell artists' merchandise, digital downloads, gig tickets and meet and greet experiences directly to fans using their channels.
Product sales will be hosted by affiliated companies such as Topspin, Songkick, iTunes and Amazon.
Additionally, YouTube has simplified the process in which independent labels sign up to partner deals and receive revenue when music is played.
In relation to these changes, YouTube is holding a panel event in New York on October 20 in which music artists that have been successful on YouTube will share their experiences.
YouTube attracts 800 million visitors per month.
Source: YouTube Global