(Cover) - EN Showbiz - Kanye West is reportedly hoping to secure a New Year's Eve performance which doesn't pay less than $1 million.

The American rapper wants to put on a DJ show to celebrate the passing of 2011 with an eye-watering fee.

Kanye has allegedly got his heart set on a hefty price tag to accompany his performance.

"He doesn't want to get on a stage for less than a mil," a source told the New York Post.

Kanye is reportedly considering heading to Las Vegas to showcase his talents. The star took to his Twitter page this week to reveal his new DJ moniker ahead of his hoped-for performance.

"I kinda wanna DJ somewhere this New Years (sic)" he wrote on Tuesday, before taking to the social networking site again the next day.

"My New Years DJ name is gone be YEEZY WORLD PEACE! If you book me you have to put YEEZY WORLD PEACE on the E-vite. Or I ain't spinning (sic)."

Kanye has been working on his GOOD Music album, which is set for a spring 2012 release. According to sources, the 34-year-old musician putting a great deal of effort into the new record.

"He's been picking creative people from all over and asking them to work with him," an insider revealed, adding that they are "a very eclectic group of music people that are very far from his old crew." (C) Cover Media