The first YouTube Music Awards will air live on (where else?) YouTube, on November 3. And here's how it works:

YouTube will reveal six award categories mid-October. Data from YouTube users will help drive the nominations, and users can also vote for the winners (this will not end well).

Artistes like Lady Gaga, Eminem and Arcade Fire are slated to perform during the live show, which will be held at Pier 36 in New York City. Prior to the event, YouTube will also showcase hours of pre-recorded performances taped across the world.