Nowadays, pretty much anyone can become famous overnight, thanks to YouTube. When it comes to breaking new artists and premiering new music videos, YouTube definitely takes the lead over all the other networks. This year, YouTube will be paying tribute to its many users by hosting their first ever YouTube music awards.

Amongst many big performers, Eminem, who is getting ready for the release of his upcoming album "The Marshall Mathers LP II," is scheduled to perform, as well as Lady Gaga and Arcade Fire, to name a few. Other performers who gained their celebrity on Youtube, such as Lindsey Sterline and CDZA, will be performing as well. The award show will take place on November 3, and it is set to feature actor Jason Schwartzman as the host.

The creative director of the award show Spike Jonze says in a statement, "We're setting out to create a night that's all about making things and creativity in the spirit of everyone that uses YouTube. 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."

In addition, YouTube's first award show will feature musical events from different parts of the world, including South Korea, Russia, London and Brazil. The show will honor the most-viewed YouTube videos over the past years based on global music video views and shares.

Nominees for the unnamed categories will be announced on October 17, and fans will be able to vote on the winners via social media.

The 90-minute production will be take place at Pier 36 in New York City, and it will be livestreamed on YouTube. Eminem's upcoming album "MMLPII" will arrive two days later, on November 5.