YouTube Music Awards Nov 3 In New York City

YouTube is launching its own music awards presented at Pier 36 in New York City and will stream live online.

YouTube announced Tuesday that Lady Gaga, Eminem and Arcade Fire will perform at the YouTube Music Awards on Nov. 3.

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.