Two of this year’s biggest hit makers, Justin Bieber and Lady Gaga, will join forces in saying goodbye to 2011 and welcoming 2012 as they are set to perform in NYC’s Times Square on New Year’s Eve as the famous ball drops to mark the start of a new year.

“On the last day of each year, Times Square, the ‘Crossroads of the World,’ becomes the focal point for millions of viewers across the globe,” said George Fertitta, CEO of NYC & Company which officially manages the city’s marketing and tourism businesses.

The New Year’s Eve ball in Times Square is a long-celebrated tradition dating back to 1908. For years, it has gathered more than a million city dwellers and tourists as they anticipate the midnight countdown and the descension of the ball, prepped by live performances from today’s hottest artists. It is also televised live globally, with over a billion people worldwide partaking in the festivities through their TV sets.