Yahoo is plotting major moves for the music industry. The tech giant announced at a presentation for advertisers this week that they will officially be going ahead with the Simon Cowell-led "Ultimate DJ" talent competition to find the next big DJ. It has also doubled down on its 365-day live-stream concert series with Live Nation. The digital content unveiling did not stop there as Yahoo expanded its partnership with iHeartMedia for live events and renewed its Live Nation deal that includes five festivals.

Veteran EDM star Steve Aoki was on hand to present the "Ultimate DJ" competition, which will be produced by Cowell and Kelley Belldegrun of Syco Entertainment, Ultra Records president Patrick Moxey and Done and Dusted's Ian Stewart and Hamish Hamilton.

"I have always been excited to be involved in a show where you have the chance to discover a star," Cowell said in a statement via Billboard.

There has been speculation over the past few months about how the competition would include live voting like the X Factor and with Yahoo owning social blogging site, Tumblr, it made sense for them to choose that outlet.

Yahoo chief marketing officer Kathy Savitt says "'Ultimate DJ' will be very much like the World Cup of EDM -- country against country, DJ against DJ, fanbase against fanbase. And with all the voting happening on Tumblr, it's yet another example of the growing convergence and synergies we are finding between the two platforms."

The 365-day live stream concert series has hosted a wide variety of different names across music on Yahoo Screen like Dave Matthews, John Legend, Usher, Santana, Twin Shadow, Justin Timberlake and others.

Full details have not been unveiled about which five Live Nation festivals Yahoo has partnered to present, but the service is looking to premiere more music videos of the same caliber as Taylor Swift and Mark Ronson last year.

"We're having a lot of discussions with artists and their managers on how to launch new music in grander ways," says Lisa Lichts, Yahoo's Senior VP.

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