Swift, 25, picked up 14 nominations while Smith, 22, got 13,
including nods for top artist.
Swift's "1989" will compete with Smith's "In the Lonely Hour"
for the top album prize. The two will also go up against each
other for top Hot 100 song, with Swift's "Shake it Off" pitted
against "Stay With Me" by Smith.
Pop star Katy Perry, British band One Direction and singer
Ariana Grande also won nominations for top artist.
Perry and Grande will compete with Swift, Meghan Trainor and
Australian rapper Iggy Azalea for best female artist, while
Smith is up against Drake, Pharrell Williams, Ed Sheeran and
Justin Timberlake for top male artist.
Azalea, 24, earned 12 nominations, including best new artist, in
which she'll compete with Smith, Trainor, Australian boy band 5
Seconds of Summer and Irish singer Hozier.
Billboard magazine, which covers the music industry, said the
finalists were based on fan interactions with music, including
album and digital sales, touring, radio airplay, streaming and
interactions on social media websites and other online sites for
music.
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The awards will be broadcast live on May 17 from the MGM
Grand Garden Arena in Las Vegas on Walt Disney Co's ABC network.
Other anticipated categories on the night include top hot 100
song, which includes Trainor's "All About That Bass," Azalea's
"Fancy" and Oscar winner John Legend's "All of Me."
Perry, Timberlake, Lady Gaga, One Direction and The Rolling
Stones will compete for top touring artist.
Rapper Ludacris, who will host the awards with supermodel Chrissy
Teigen, announced nominations in five categories on ABC's "Good
Morning America" show with Fall Out Boy rocker Pete Wentz. The rest
of the nominees were announced on Twitter.
(Reporting by Patricia Reaney and Piya Sinha-Roy in Los Angeles;
Editing by David Gregorio and Jonathan Oatis)
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