Taylor Swift to perform in Times Square on New Year's Eve

Country singer Taylor Swift is set to usher in the New Year with millions of fans after agreeing to perform in New York City's Times Square just before the stroke of midnight.

Ryan Seacrest made the big reveal after explaining that he will be taking over the reigns of the annual star-studded bash from beloved presenter Dick Clarke, who passed away in April (12), and will present the traditional show celebrating the famous ball drop on his own for the first time.

During an appearance on Late Night With Jimmy Fallon on Wednesday (31Oct12), he said, "This one is gonna be emotional. This is the first time in 40 plus years that we'll be in Times Square without Dick Clark as he passed away. And he's such a hero of mine and was a dear friend. So it will be special, celebratory, reflective, but certainly emotional."

But Seacrest won't have to face the hoards of crowds alone - during the interview, he dropped less-than-cryptic clues all but confirming to viewers that the evening's performer would be We Are Never Ever Getting Back Together hitmaker Swift, who made chart history this week (begs29Oct12) after her new album Red moved more than 1.2 million copies in its first week of release.

Responding to Fallon's pleas for clues about the headline artist, he said, "We haven't announced it yet, but wouldn't it be great if we could get, there's a female artist out there that's setting records in terms of what she's selling, recently. She loves the color red. And if you're with her, you may never, ever, ever, be back together with her. And she loves a good break-up anthem."

Swift will join a long list of celebrities who have previously performed on the Dick Clark's New Year's Rockin' Eve with Ryan Seacrest TV special - last year (11) Lady Gaga, Justin Bieber, Nicki Minaj, Pitbull and LMFAO all staged shows to ring in 2012.