Princes William and Harry have kicked off the Concert for Diana at the new Wembley Stadium in London!! 

The two young men looked dapper and royal as they addressed the world for the first time.  Even though it is not standard for young royals to address such a large crowd, Princes William and Harry wanted to personally thank everyone for their participation in the tribute to their mother, the late Princess Diana of Wales.

"We wanted to have this big concert, full of energy, full of the sort of fun and happiness which I know she would have wanted," Prince William said. "And on her birthday as well - it's got to be the best birthday present she ever had."

Over 63,000 people packed into the stadium and roughly 500 million more are watching live on 140 stations across the world broadcast the concert including VH-1 in the United States.

Before exiting the stage, William and Harry introduced their mother's favorite band, Duran Duran.

John Taylor, of the 80s heart-throb band, said the princes asked them to keep the concert "upbeat."

"I thought it was very brave of them to put this show on. It's courageous to put something like this together in memory of their mother. I can only imagine the emotions that there would be putting on this in remembrance," Taylor said.

Duran Duran performed Diana's favorite song, "Rio" following an opening special rendition of "Your Song" by Elton John.

Lily Allen is currently performing.  She will be joined by such names as Diddy, Kayne West and Fergie.