Released on 6 September, ‘Hollywood’s Bleeding’ is Malone’s second No. 1, following 2018’s ‘beerbongs & bentleys’.
This year's production is set to take over Arlington, Texas' AT&T Stadium on 2 November.
The follow-up to the Grammy-nominated 'Beerbongs And Bentleys', the new album features 17 tracks and guest slots from Travis Scott, SZA, Ozzy Osbourne and more.
The new track is taken from the artist's new album, 'Hollywood's Bleeding', which is released on 6 September.
On the melancholic new track, the genre-bending Texan rapper teamed up with two of his frequent collaborators Frank Dukes and Louis Bell.
'Hollywood’s Bleeding' is the hotly-anticipated follow-up to 'beerbongs & bentleys', which was released by Republic Records on 27 April 2018.
The star said: “It’s cool to grow my relationship with Bud Light and collaborate on a merch collection with them."
The trek kicks off in Tacoma, WA, on 14 September and winds down on 20 November at the Forum in Los Angeles.
At the inaugural Posty Fest, Malone performed alongside headliners Travis Scott, Tyler the Creator, and many others.
The video features Kathryn Newton from Big Little Lies and it was directed by Colin Tilley.
The line-up will also bring fans performances from Bassnectar, Brandi Carlile, The National, Rezz, Zhu, Young The Giant, Interpol and more.
Last year, the festival featured Florence + The Machine, Arcade Fire, The Weeknd and more.
The star-studded 2019 event will air on NBC from the MGM Grand Garden Arena in Las Vegas on 1 May.
The new film features a cameo from dancer Mike Alancourt, whose video of himself dancing to the track on Instagram recently went viral.
Previous recipients of the award include Taylor Swift, Ed Sheeran, Adele and One Direction.