Luis Fonsi and Daddy Yankee will receive the award for Latin Song of the Decade for their hit "Despacito" at the 2020 Billboard Latin Music Awards.
The two Puerto Rican artists will also perform at the awards ceremony, which is set to take place on Wednesday, Oct. 21, at the BB&T Center in Sunrise, Florida. Venezuelan actress Gaby Espino, star of "Jugar Con Fuego" ("Playing with Fire") will host the show, airing live on Telemundo at 8 p.m. ET.
"Despacito" held the top spot on Billboard's “Hot Latin Songs” list for 56 weeks (not consecutively), a record for any Latin song since the list's inception in 1986.
On Feb. 17, 2018, the song set a new record for longevity on the Hot Latin Songs list when it surpassed the 41-week reign of Enrique Iglesias' hit "Bailando" featuring Descemer Bueno and Gente de Zona.
"Despacito" also made history at the top of the Billboard Hot 100 list, a chart that includes all genres of music. In May 2017, after spending 16 weeks in the No. 1 spot, the song tied the then all-time mark for weeks at No. 1 set by Mariah Carey and Boyz II Men's 1996 hit "One Sweet Day."
Fonsi, who is nominated for four awards, including Latin Pop Artist of the Year and Latin Album of the Year for "Vida," recently released the single "Perfecta" with another Puerto Rican artist, Farruko.
Daddy Yankee is nominated for 12 awards, including Hot Latin Song of the Year for his single "Con Calma." He also recently released the single "Don Don" with fellow Puerto Ricans Anuel AA y Kendo Kaponi.
The 2020 Latin Billboard Awards coincides with Billboard's Latin Music Week 30th anniversary, a three-day event dedicated to Latin music, culture and entertainment. The event features artist interviews, industry panels and exclusive content. Due to the coronavirus pandemic, this year's Latin Music Week is being held virtually and runs through Oct. 23.