Couple suggestions:
1. Add some suggested artists that let me click and immediately start watching/listening. You want to demonstrate the value asap, so anything you can do to reduce thinking will help. I spent awhile thinking, came up with "Arcade Fire", then found that there were no results. If this wasn't a post on HN, I would've bounced there.
2. Keyboard shortcuts. But this is obvious, and I'm sure you'll get around to it.
3. The on-hover controls are ok, but there should be some indication that they exist before I mouse-over. You could also use some basic icons to make the controls easier to parse (especially arrows for next and prev).
4. As it stands now, there's no way to surf videos easily. After clicking "next", I have to move my mouse out of the central area, then move it back over to click "next" again. The goal of a site like this is to facilitate brainless and easy surfing, so you should try to reduce as many friction points as possible.