Dick Clark productions and Billboard, the ultimate authority in music and home of the iconic Billboard charts defining success in music, announced the finalists for the 2014 Billboard Music Awards, honoring the year's most successful artists in 40 categories.

The 2014 Billboard Music Awards will broadcast LIVE from the MGM Grand Garden Arena in Las Vegas on Sunday, May 18, on ABC from 8:00 p.m.-11:00 p.m. ET, with performances from music's biggest stars. The "2014 Billboard Music Awards" is produced by dick clark productions. Allen Shapiro and Mike Mahan are Executive Producers. Larry Klein and Barry Adelman are Producers.

Jason Derulo appeared in the 8:00 a.m. ET hour of Good Morning America yesterday to announce his participation as a performer in this year's Billboard Music Awards. Derulo also announced five of the 40 finalist categories, including: Top Artist, Top Male Artist, Top Female Artist, Top R&B Artist, and Top Country Artist.

Finalists Imagine Dragons and Lorde lead with twelve categories each. Imagine Dragons is vying for its first Billboard Music Award this year. The quartet burned up the charts in 2013 with its album Night Visions (which is also a finalist for Top Rock Album) and its many hit singles. Among those is the smash hit "Radioactive," which broke the record for the most weeks ever on the Billboard Hot 100 chart. Lorde broke through in 2013 as well with her inescapable No. 1 Billboard Hot 100 single "Royals" and debut album Pure Heroine. The two musical acts go head-to-head in nine categories, including Top Hot 100 Artist, Top Digital Songs Artist, Top Radio Songs Artist, Top Rock Artist, Top Rock Album, Top Hot 100 Song, Top Digital Song, Top Streaming Song (Audio), and Top Rock Song.

Justin Timberlake, Katy Perry and Macklemore & Ryan Lewis follow with 11, 10 and 8 categories respectively. Justin Timberlake could capture his first Billboard Music Award this year as a solo artist. Included in his 11 categories are Top Artist and Top Billboard 200 Album. With the group 'N Sync, Timberlake earned five Billboard Music Awards, including the 2000 trophy for Album of the Year (No Strings Attached). Katy Perry is already a three-time Billboard Music Award winner, with the 2011 Top Hot 100 Artist and the Top Digital Songs Artist, and the 2012 Spotlight Award, honoring her achievement as the first woman to earn five No. 1 songs on the Billboard Hot 100 chart from one album (Teenage Dream). Macklemore & Ryan Lewis are also past winners, receiving Top Rap Song at the 2013 Billboard Music Awards.