Paul McCartney to be honored by Coldplay, Katy Perry at MusiCares event

(CBS) Paul McCartney will receive his MusiCares "Person of the Year" award on Friday - two days before the Grammy Awards at a special ceremony in Los Angeles.

The benefit will feature performances by Katy Perry, Coldplay, Alicia Keys, Norah Jones, Foo Fighters and Tony Bennett.

Tickets for the event cost anywhere between $1,500 and $100,000 -- with proceeds donated to MusiCares, an organization connected with the Grammys that helps musicians in financial or personal crisis.

McCartney, who releases his new album "Kisses On The Bottom" on Tuesday, is being honored for his musical accomplishments and charitable work.