Each act represents a different part of the UK, with Duran Duran coming from England, Snow Patrol representing Northern Ireland, Paolo hailing from Scotland and the Stereophonics are from Wales.
Duran Duran singer Simon Le Bon said: ''Performing to so many people on the most exciting day in sport for Great Britain will be one of the highlights of the last decade for us. We have been invited to represent England for this Team GB show, and we couldn't be more proud. Seeing the torch being lit on the big screens before hitting the stage in this iconic location will be a great experience ... we simply can't wait.''
As well as watching the acts fans in Hyde Park will be able to enjoy live coverage, courtesy of the BBC, of the London 2012 Opening Ceremony from the Olympic Park on giant screens.
BT London Live is a partnership between the Mayor of London, The Royal Parks and The London Borough of Tower Hamlets, and a key part of the citywide programme of events being organised by the Mayor of London to celebrate the London 2012 Games.
Tickets for the concert go on sale to the General Public on Friday 4 May at 9.00am priced at £60.00 plus booking fee, and will be available from www.btlondonlive.com.