How to pick the right web host

[ncjbhd]

I'm just starting out and trying to make myself a website. I'm thinking about choosing godaddy as my domain registrar. Unless someone else knows of a better one. Now the problem is I don't know which web host to choose because there are so many different types and don't know what each one does. All I know is that I'll need a good amount of space available for others to have on the website. I'm planning on posting music for people do download and also want it possible for people to upload
music to the website. Let's assume that there will be many users in the website and lots of music files. I'm looking for the perfect balance of affordable and quality. Help will be greatly appreciated. Oh and I forgot to mention that I plan on video uploads as well. And I want people to be able to create their own accouts in the website. What do I need and which provider should I get? Thanks again