Taylor Swift
Singer Taylor Swift performs during the 2014 Victoria's Secret Fashion Show in London December 2, 2014.Reuters

This year's edition of Victoria's Secret Fashion Show, which was held at the Earls Court Exhibition Centre on 2 December in London, will be telecast on CBS on Tuesday night from 10-11 pm ET.

While the highlight of the one-hour extravaganza will indeed be the Fantasy bras worn by Alessandra Ambrosio and Adriana Lima worth approximately $2 million, the musical performances by Taylor Swift, Ariana Grande and Ed Sheeran have managed to create quite a buzz.

Swift performed at the opening and closing of the show, where she crooned her latest hit "Blank Space." This is the second time Swift is performing at the lingerie fashion extravaganza, after making her debut last year.

Swift's costumes for the night included a pink satin slip with an intricate bodice around the cleavage, and a racy black lace gown, which she wore with high-waist pants and a matching bra underneath.

Grande too was at her sexy best, wearing glittery shorts with a matching bra. She completed the look with thigh high black boots and her trademark ponytail.

A preview of the show featured Sheeran looking excited to be among the models, and the Internet has been making fun of some of his weird expressions. But in a new interview, Sheeran said that his amused expression was because Grande was making him laugh.

"It was fun, but I kind of felt like the hobbit in the elven kingdom!" Sheeran joked to Elvis Duran. " ... Can I tell you why I was laughing? Basically there were all these big inflatable bouncy black balls that are bouncing around in the crowd on the finale bit. Ariana Grande comes up and stands up next to me and just looks at me and goes, 'I love big black balls.' In my head I was like, 'If she knows what that means then I love her, and if she doesn't know what that means, it's even better!"

Besides musical performances and models strutting their stuff on the ramp, the event will also feature pink carpet interviews, model profiles and a behind-the-scenes look at the making of the fashion show.

The show can be watched online on CBS' official website after the show has been aired on television. The YouTube channel of Victoria's Secret will stream pre-show coverage with Victoria's Secret Angels and other special guests.