Lady Gaga is Billboard's 2015 Woman of the Year, according to the magazine. The pop star will be honored at an event that will be televised for the first time ever on the Lifetime network Dec. 18. The ceremony will take place at Cipriani Midtown in New York City.

The event honors the biggest names in the music industry and Gaga takes over from last year's winner, Taylor Swift. The Grammy award-winning artist most recently teamed up with Tony Bennett for a collaborative jazz album last year. She also came out with a new song and video, "Til It Happens to You," for the upcoming documentary "The Hunting Ground," which is about rape on college campuses.

Gaga is set to take over the lead from Jessica Lange in the upcoming season of Ryan Murphy's "American Horror Story," which premieres next month. She plays Elizabeth, The Countess, a "very wealthy social doyenne who is consumed with art and fashion," according to showrunner Murphy.

Gaga's character is bloodthirsty and will be a sort of vampire, but not the kind that has been popularized in the media. Murphy likes to think that Gaga's character has an "ancient blood virus," which is basically "a form of hemophilia, in a way."

"She's extremely strong," explained Gaga about her character. "She's been through so much. It's kind of impossible for anything to penetrate her."

"American Horror Story: Hotel" premieres on FX Oct. 7.