The 20-year-old has signed on to star in the movie along with 'Star Trek' actor Anton Yelchin, 'The Matrix' star Laurence Fishburne and Billy Crudup, reported Deadline.
The musical drama is about a man who creates a band in honour of his deceased son after discovering songs written by him.
"Fargo" actor Macy, who is currently starring on the US TV remake of 'Shameless', will also star in the film alongside his wife, 'Desperate Housewives' actress Felicity Huffman.
Gomez can currently be seen in the risque drama 'Spring Breakers' along with Vanessa Hudgens, Ashley Benson and James Franco.