"Monster" marks the first music collab between the two Canadian crooners
Shawn Mendes, Justin bieber
Justin Bieber, Shawn Mendes
| Credit: YouTube

It's a Canadian collaboration — Shawn Mendes and Justin Bieber just released a brand new song!

Titled "Monster," the newly released track marks the first time the two musicians have collabed. Both have previously hinted that they would be open to working together.

Released at midnight on Friday, the new single — which comes as part of Mendes' soon-to-be-released album Wonderbegins with Mendes, 22, singing about being on a pedestal. "You put me on a pedestal and tell me I'm the best / Raise me up to the sky until I'm out of breath / Fill me up with confidence, I say what's in my chest / Spill my words and tear me down until there's nothing left / Rearrange the pieces just to fit me with the rest, yeah."

Then Bieber, 26, chimes in on the song, adding, "I was 15 when the world put me on a pedestal / I had big dreams shows and making memories / Made some bad moves trying to act cool, upset by their jealously / Lifting me up (Lifting me up), lifting me up (Yeah)."

On Monday, both stars shared the same instrumental, teaser clip on their respective Instagram pages.

"#MONSTER Nov 20th @shawnmendes," Bieber captioned his post. Mendes echoed him on his own account, adding that the tune is the "next single from #WONDER."

During an interview with Zane Lowe on Apple Music earlier this week, Mendes spoke about his relationship with Bieber and how the track is about the troubles of fame.

"This song has always resonated with me and it just never found its way out. And now all of a sudden I was listening to it one day, and I just started my relationship with Justin," he told Lowe about "Monster." "It just started forming properly in the last three months. And I called him and I was like, 'Look, I have this song. It's kind of going there.'"

"It's about how society can put celebrities up on a pedestal and watch them fall and it seems to be this entertainment thing. And it's hard. And his heart fell deep into it," he added. "And him and I, even yesterday, were on the phone for an hour and had the deepest conversation, I think, about so much. And it just felt really nice because it was a full-circle moment for me, this guy who was the reason I started singing."

Mendes explained that Bieber was "Elvis to me" when he had just started singing, so the collaboration meant so much to him.

shawn mendes; justin bieber
Shawn Mendes and Justin Bieber
| Credit: Getty (2)

"And to come back around and to have this very human to human conversation with him and his truth to come into that song and my truth to be there, it feels like one of the most special songs I've ever written," he said. "And the more I listened to it and the deeper I get into it, this is not just about celebrities. This is the human experience."

The two have been teaching the song all week. On Tuesday, the singers engaged in friendly banter after Bieber posted an old clip of himself during an interview asking, "Who's Shawn Mendes?"

"You don't remember us taking this pic together?" responded Mendes with a photo of himself posing with Jacob Tremblay, who recently played a younger Biebs in his "Lonely" video.

"This guy thinks he can beat me in hockey," quipped Bieber.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

Last month, during a virtual appearance on the Capital Breakfast with Roman Kemp radio show, the "Lost In Japan" singer teased the collaboration after he tip-toed around a question about whether or not he and Bieber may have collaborated on a new song.

After he was asked if he had turned down working with the "Holy" singer in September, Mendes replied, "Is this you trying to get me to confirm that I have a collaboration with Justin Bieber?"

"If I turned one down, that would be insane, considering he's been one of my favorite artists since I was like 9 years old," he said, before he added with a smile, "I cannot confirm or deny."

The duo first sparked collaboration rumors back in August when they were both seen at the same studio along with the "Love Yourself" singer's wife, Hailey Baldwin.

Capital Breakfast host Sonny Jay reminded Mendes of the occurrence, to which he replied that he and Bieber have gotten closer amid the ongoing coronavirus pandemic.

RELATED VIDEO: Justin Bieber Delves Into the Dark Side of Childhood Fame in Newly Released Single ‘Lonely’

"In the last six months, we've definitely become a lot closer," he said. "It's really cool to have him as a mentor in a lot of ways, just to kind of talk through stuff with, because there's not many people who do this type of stuff."

Last year, after Mendes was awarded the title "Prince of Pop" by Observer Magazine, Bieber quipped that Mendes still had a ways to go to officially "dethrone" him from the title and added that they could battle it out on the rink or basketball court to declare a winner.

"Hmm Gonna have to break a few more records to dethrone my title there bud,” Bieber jokingly commented on Mendes' Instagram post. He then added, "(Canadian voice)..but if you want we can play hockey for it but i heard your [sic] a real bender on the ice we could just drop the buckets and tilt for it." Mendes was game for the challenge, and in response, wrote back: "LOL any time any day you just let me know!!!!!!"

But once fans started arguing which Canadian singer deserved the title more, Bieber weighed in on the situation, writing that "there is no competition and it was a playful joke people relax.. there's no sides we're all just here to make dope music."

"I'm just competitive as is he so it was just a little playful jargon," he added.