Two new performers have been announced for the 2014 Billboard Music Awards: Ricky Martin and Miley Cyrus.

The event will take place in Las Vegas at the MGM Grand Garden Arena on May 18 and will air on ABC at 8 p.m. ET.

Martin will perform his new song "Vida," which is on the FIFA World Cup soundtrack. And if the Billboard Latin Music Awards were any indication, then he will bring a high-energy performance that will pump up the crowd. Miley Cyrus, who is currently in London, will be performing remotely from a tour stop, Billboard said.

It was previously announced that Pitbull, Jennifer Lopez, 5 Seconds of Summer, Florida Georgia Line, Jason Derulo, Imagine Dragons, Luke Bryan, John Legend and OneRepublic would be performing at the event as well.

Today some of the presenters were also announced. Expect to see Jordin Sparks, Kelly Rowland, Kendall Jenner, Kevin O'Leary, Mark Cuban, Pete Wentz and Wiz Khalifa handing out awards to your favorite stars.

The event will be a special one for Jennifer Lopez, who will be receiving the Icon Award and debuting "First Love," her new single. Her next album, "A.K.A.," is set to be released on June 17.

"Jennifer Lopez is one of the most iconic performers of her generation," said Larry Klein, producer of the Billboard Music Awards. "We are thrilled to honor her historic career with the 2014 Icon Award and will be on the edge of our seats like everyone else when she takes the stage."

Currently viewers can vote on The Milestone Award.

It will be the second time the award is given out, and it is presented by Chevrolet. There are three finalists -- Ellie Goulding, Carrie Underwood and OneRepublic -- which were narrowed down through people's votes.

Imagine Dragons, Lorde and Justin Timberlake may go home as big winners as they all have a few nominations.