Best friends Selena Gomez and Demi Lovato rang in the new year together on MTV's 'NYE in NYC' special. The girls were stationed in Times Square in and around the MTV studios in New York City, where they both performed, with Lovato also taking the reigns as the show's host (alongside 'Teen Wolf' actor Tyler Posey).

Selena Gomez took the stage inside MTV studios to perform a medley of tracks from her most recent studio album, 'When the Sun Goes Down,' with her band the Scene. Dressed in a festive, sparkly dress, Gomez performed her hit 'Love You Like a Love Song' before cutting into her latest single 'Hit the Lights.' While 'Love You Like a Love Song' got people singing along, Gomez brought the house down with her upbeat, dance-pop single 'Hit the Lights' as she sang amongst a hoard of fans.

When she wasn't showing off her top-notch hosting skills, Demi Lovato was also hitting the stage to entertain her fans and viewers. The songstress, who was clad in a black, bedazzled corset and matching skirt, performed her song 'Give Your Heart a Break' off of her 2011 'Unbroken' album. The redheaded songstress delivered the song beautifully, getting fans grooving along inside MTV's studio in Times Square.

On the 'NYE in NYC 2012' New Year's special, rappers J. Cole and Mac Miller performed -- Cole gave fans a 'Work Out' as they danced to his massive hit, while Mac Miller got the crowd jumping and going nuts to 'Party on 5th Ave.' Jason Derulo also sang a mashup of his hits 'It Girl' and 'Don't Wanna Go Home.'

Watch Selena Gomez Perform on 'NYE in NYC 2012'

Watch Demi Lovato Perform on 'NYE in NYC 2012'