Out of their 11 categories, the three leaders will all compete for Top Hot 100 Artist and Top Digital Songs Artist.
Maroon 5 and fun. will also vie for Top Duo/Group, Top Radio Songs Artist, Top Hot 100 Song, and Top Digital Song while Maroon 5 and Swift will compete for Top Artist and fun. and Swift are both finalists for Top Streaming Song (Video).
Rihanna and Carly Rae Jepsen have received nods in 10 and nine categories respectively while One Direction will compete for eight awards at the ceremony which will be held at the MGM Grand Garden Arena in Las Vegas on 19 May.
For the first time this year, the Billboard Music Awards will also feature new EDM categories, which will spotlight top electronic dance music artists, albums and songs.
Prince is also set to be presented with the Billboard Icon Award during this year's ceremony.
Billboard Music Awards finalists are based on key fan interactions with music, including album and digital singles sales, radio airplay, touring, streaming and social interactions on Facebook, Twitter, YouTube, VEVO, Spotify and other popular online destinations for music.
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