Katy Perry in Red Dress at Billboard Women in Music Lunch

Katy Perry donned a figure-hugging red Oscar de la Renta dress to accept her woman of the year award at the Nikon-sponsored Billboard Women in Music lunch this afternoon in NYC. Katy hit the red carpet alongside fellow honoree, Carly Rae Jepsen, who received the rising star honor. We caught up with Carly Rae to chat about being recognized with Katy and she let us in on her excitement, saying, "It's surreal and it's such an honor. Katy Perry is one of, if not my favorite pop artist, and not only as an artist, but as a person, she is very kind at heart and I admire that a lot."

Both Carly and Katy were interviewed by special guests on stage, with Carly Rae speaking to the Today show's Natalie Morales and Katy sitting down with comedian Jon Stewart. Katy explained that she takes a transparent approach with her fans, revealing that she does not want people to look up to her, but rather see eye to eye with her. We were also able to chat with Katy about her down-to-earth attitude towards fame and her recent admission that she wears Spanx. She said, "I am OK with myself and I think every woman does stuff like that all the time." Katy also shared thoughts about her Billboard honor, saying, "They are one of the only legitimate trade magazines still left, so there is not a lot of choice and that means that they probably matter the most, so it is a compliment."