Cooler yet, 1D is the first group to nab the top artist award since 2001, when Destiny's Child claimed the distinction.
Billboard bases the award on chart performance for December 7, 2013 through November 29, 2014, looking at Billboard 200, the Billboard Hot 100 singles list and other data. Billboard points to the success of One Direction's album, Midnight Memories, as well as their huge Where We Are concert tour and social media performance.
The official One Direction Twitter account shared the big news, writing: "Incredible news! The guys have been named @billboard's Top Artist of the Year for 2014!"