Aerosmith will be honored as the 2020 MusiCares Person of the year. The 30th anniversary of the benefit gala and tribute concert will take place two nights before the 62nd Annual Grammy Awards in Los Angeles.

The Rock and Roll Hall of Famers, who are celebrating 50 years as a band, will be recognized for their “considerable philanthropic efforts and undeniable impact on American music history.” Aerosmith have supported many charities over the years including MusiCares. Steven Tyler also founded the initiative Janie’s Fund, which supports young women who’ve suffered the trauma of abuse and neglect.

The group announced they would be the next “Person of the Year” during their performance last night (Oct. 3) at their Las Vegas residency concert Deuces Wild. In the video below, frontman Steven Tyler announces the news after joking about a band being named “Person of the Year.” In a serious tone he says, “So let the music community live on and on, let the music do the talking!” Watch the video below.

Proceeds from the various MusiCares events provide a safety net of critical assistance for musicians in times of need. The organization offers confidential preventative, recovery, and emergency programs to address financial, medical, and personal health issues.

Last year, Dolly Parton was the first country artist to be named MusiCares Person of Year, joining Fleetwood Mac, Tom Petty, Lionel Richie, Bob Dylan, Bruce Springsteen, Bono, Paul McCartney, Neil Young and Stevie Wonder, among others. The talent lineup for the Aerosmith tribute has not been named as of yet.

The event takes place in Los Angeles on Friday, Jan. 24, 2020. Two days later the 62nd Grammy Awards will be handed out at the Staples Center on Sunday, Jan. 26, 2020. The show will air live on CBS at 8PM ET.