As a host, nominee and performer, Jason Derulo definitely has his hands full tonight. 

The one man band for the 2016 iHeartRadio Music Awards alleges he gave the show a good bargain this year. 

"You know the budgets were cut," he told E!'s Sibley Scoles on the red carpet. "I'm here for the team!"

He continued with the spoof, reenacting a faux phone call with the show's producers. 

"We're running out of money, J," he quipped. "Can you help us in a bind?"

Jokes aside, Derulo has a full night ahead of him as he's slated to perform his latest single, "If It Ain't Live" live onstage and he's up for the "Biggest Triple Threat" award against Lady Gaga, Jennifer Lopez, Justin Timberlake and more of the industry's most celebrated artists. 

2016 iHeartRadio Music Awards, Jason Derulo

Jesse Grant/Getty Images for iHeartRadio / Turner

As for his hosting resumé, this show marks the "Want To Want Me" crooner's first time as the official MC in charge. As for practice, Derulo does admit he's hosted a few parties at home, though his last didn't turn out so calmly.  

All in all, Derulo's keeping his cool just minutes before the live telecast. 

"I'm just going with the flow," he concluded. "It's do or die today."

Watch E!'s Live From The Red Carpet 2016 iHeartRadio Music Awards special starting at 7 p.m. ET/4 p.m. PT on Sunday, April 3rd

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