Katy Perry may have had a few slumps in her personal life this past year, but career-wise, she’s on top of the world – and the charts! She has been named Billboard magazine’s "Woman of the Year" and will be honored at the seventh annual Women in Music event on November 30!

“Katy Perry broke into the industry not even five years ago, and has already accomplished more than most artists can hope for in an entire career,” said Bill Werde, Billboard’s editorial director. “We are thrilled to celebrate these incredible achievements and her amazing past 12 months by honoring her with the Billboard Woman of the Year Award.”

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He continued. “With what seems like a never-ending supply of record-breaking, chart-topping hits, coupled with her unique and fresh style, Katy Perry is hands-down one of the most exciting and inspiring artists in the industry today.”

Katy will be joining other big names in music, like Ciara, Beyoncé, Fergie and Taylor Swift who have all won the award in the past. Her sophomore album Teenage Dream has had five number-one hits, which makes her the only woman in Billboard Hot 100 chart’s history to do that. Their history? 54 years!

So what does this all mean? Katy is definitely a real firework. Sorry, super cheesy but had to say it.

Do you think Katy is the Woman of the Year? Sound off in the comments section below!

Photos Courtesy of Getty Images & Fame FlyNet