Fifth Harmony will be honored on Dec. 11 at Billboard's Women in Music event in New York with the Group of the Year award.

According to Billboard, the event coincides with the publication of Billboard's Women in Music list, which showcases 50 of the most powerful women in the music industry this year.

"Fifth Harmony defines the consummate group dynamic: five women with a strong, united voice and a commitment to celebrating female empowerment," said Janice Min, co-president and chief creative officer of Guggenheim Media's Entertainment Group. "In the few short years since they formed on 'The X Factor' this diverse group of women has managed to make chart-topping music, develop a legion of passionate fans around the world and use their platform to promote self-esteem. They do it all so well, the very definition of a 'Group of the Year.'"

The event will also honor Lady Gaga with the Woman of the Year award, while pop singer and actress Selena Gomez will receive the Chart Topper award. Demi Lovato will be receiving the Rule Breaker award, Lana Del Rey will get the Trailblazer award, and Brittany Howard of Alabama Shakes will receive the Powerhouse artist award.

Fifth Harmony will also be performing at the event, along with Lady Gaga, Gomez and Howard. The show will air on Lifetime on Dec. 18.

The pop group, known for their female empowering anthems like "Worth it," "BO$$" and "Miss Movin On," is currently working on their sophomore album. Group members have explained that they want to change up their sound and content a bit in the next offering.

"For starters, we definitely want to mature in terms of our lyrics and content," Lauren Jauregui said. "Hopefully this time around we can have some more vulnerability, some more ballads and mid-tempo type [songs], to balance out this album. We want you to sit through it and feel a roller coaster of emotions."

According to a press release from the Latin Recording Academy, the group is getting ready to make their Latin Grammy debut with a performance at this year's ceremony to be held on Nov. 19.