Lady Gaga and Eminem will be the headliners for Youtube Music Awards

YouTube is launching its own music awards and Lady Gaga will perform at the first-time event.

The Google Inc.-owned company announced Tuesday that Eminem and Arcade Fire will also perform at the YouTube Music Awards on Nov. 3. The awards will be presented at Pier 36 in New York City and will stream live online.

The announcement said the awards show will honor "artists and songs that YouTube fans have turned into global hits over the past year." Nominees will be announced Oct. 17.

Actor Jason Schwartzman will host the YouTube Music Awards. A press release said the awards show will also feature events from Seoul, South Korea; Moscow; London; and Brazil.