AceShowbiz -

A new effort to raise fund for earthquake and tsunami victims in Japan is currently being prepared by the world's biggest record label, Universal Music Group. The likes of Lady GaGa, Justin Bieber, Nicki Minaj and Rihanna are mentioned for the benefit project.

The plan is to compile their popular songs in an album and sell it online with proceeds from the sales going to the Japanese Red Cross. "We are doing it only digitally because it is faster, and this will be a worldwide release. The plan is to have it available later this week," a spokesperson for the company said in a statement.

The line-up in the compilation album is yet to be finalized. The Universal is trying to maximize the proceeds by finding more acts who are willing to waive royalties of their songs. The confirmed ones so far are Bieber, Minaj, RiRi as well as U2 and Bon Jovi. "Japan needs our help...we all need to step up," Bieber recently tweeted.

Meanwhile, GaGa is linked for the charity because the Mother Monster is one of those who made early donation to Japan. The singer has raised more than 250,000 dollars for Japanese relief effort by selling 'We Pray for Japan' wristbands. Although her involvement hasn't been confirmed, everyone's crossing their fingers that she would take part in this project.