'New Year's Rockin' Eve' in Times Square, NYC

— -- Every year several hundred thousand revelers gather in New York City's Times Square on New Year's Eve.

Millions more around the world will be watching. All eyes are glued to the screen to watch the iconic New Year's Eve ball drop in one of the most watched shows of the year.

Ryan Seacrest, co-host of ABC's special "Dick Clark's New Year's Rockin' Eve," joined "Good Morning America" to give a sneak peek at what's in store for this year's event.

The night will kick off with a live Miley Cyrus concert in Times Square. "You couldn't get a ticket to see her," said Seacrest. "The tickets were going for thousands of dollars."

In another conversation with ABCNEWS.com, Seacrest added that Cyrus' performance was intentionally scheduled toward the beginning of the broadcast so her younger fans would be able to watch.

Teen sensation The Jonas Brothers and country music breakout star Carrie Underwood will also be performing.

Seacrest first met Underwood on the set of "American Idol" and knew then that she was headed to greatness. "I have to give credit to the judges. They said this girl will be a superstar. She's won so many awards and she's broken records in the country chart," said Seacrest.

"I have a special place in my 'Idol' heart for Carrie," Seacrest told ABCNEWS.com.

The celebration will broadcast from both coasts with the Hollywood party hosted by Fergie, who will also be performing along with Akon, Natasha Bedingfield, Sean Kingston, Plain White T's, Taylor Swiff and will.i.am.

It's an all-star cast for one of the most in-demand nights of the year. "People want to be on the show," said Seacrest.

Seacrest remembers growing up and wishing he was like Dick Clark. "When I was a kid I used to watch him [Clark] and see all the action here in Times Square, a million people gathered, the ball dropping, a tradition."

"I would pretend. I'd host a radio program every day for five hours and pretend I was on the radio. … All of this sort of makes sense to me but I can't do anything else."

"The admiration I have for [Clark] is hard to put into words," said Seacrest. "He's built this tradition in Times Square on New Year's Eve that is a must to be a part of and one of the reasons these performers are thrilled to come on."

He doesn't think of it as working on a holiday. He thinks of it as what he was born to do. "I'd be doing this without cameras and microphones if I didn't do it for work," Seacrest said jokingly.

And as for Seacrest's New Year's resolution?

"I want to learn how to sky-dive," Seacrest told ABCNEWS.com. "I need an adrenaline rush."

Tune in to ABC at 10 Monday night to watch Seacrest on the live special "New Year's Rockin' Eve."