The first-ever YouTube Awards are set for Sunday, Nov. 3, and they are firing on all pistons, as they have lined up Lady Gaga and Eminem to perform!

Yeah, they are only the two biggest names in pop music with albums coming out right around the time of the show, so that was a big get for the YTAs. Canadian indie rockers Arcade Fire were also tapped to perform.

The YouTube Awards aren’t going big – they are going huge. And you can watch what happens, live! And no, we're not talking about the Andy Cohen-hosted Bravo TV show, either.

The YouTube Music Awards will honor the artists and songs that have become global hits, thanks to the support and views of YouTube fans. In essence, the fans dictate the nominees.

It will be anything but a traditional awards show, featuring musical events from Seoul, Moscow, London and Brazil, culminating in a live awards celebration at Pier 36 in New York City.

'Rushmore' star Jason Schwartzman will host the event, while Spike Jonze, film and music video director and ex-husband of Sofia Coppola, will serve as creative director.

Additionally, the YouTube Music Awards are powered by the fans themselves, since they vote for the winners.

In this first-of-its-kind event, nominations will be announced Oct. 17 based on the videos that the world watched and shared over the past year, and judging will happen in full view as YouTube fans determine the songs and artists honored by sharing across social media!

Wow. This really is anything but a run-of-the-mill awards show. It's modern and digitally dictated, like much of our world nowadays. It'll be like watching a YouTube video as it's created.

"We're setting out to create a night that's all about making things and creativity in the spirit of everyone that uses YouTube," Jonze said. "As well as giving out awards, we'll be making live music videos. The whole night should feel like a YouTube video itself. We're getting together a group of amazing artists and filmmakers to do this live - tune in to see what happens live."

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