Madrid will host the 2010 MTV Europe Music Awards function on November 7.

It will be the second time the yearly occassion has been held in Spain after Barcelona in the year 2002.

Moreover, the annual function, which has a potential global television audience of more than 600 million, will take place at Spain’s new Caja Magic sports complex whose main stadium seats 12,500 people.

Meanwhile, the Spanish capital has been selected due to its vibrant and thriving music scene and the fact that MTV, a unit of US entertainment company Viacom, is organizing its 10th anniversary of its Spanish networks.

Further, Rhythm and blues superstar Beyonce scooped up three wins for best female artist, best song for "Halo" and best video for her number one smash "Single Ladies" at the MTV Europe Music Awards held in Berlin last year.

The annual MTV award ceremony has been held each year since 1994. Past performers at the event include Britney Spears, Justin Timberlake, Madonna and U2.