Before the stars take their spots in competition, the 2012 Olympic Ceremonies will kick off tonight. 

The time everybody has been waiting will arrive today at 4 p.m. EDT as the Olympic Opening Ceremonies kick off from London. 

However, NBC will be broadcasting a taped-delayed version at 7:30 p.m. EDT. So for people in the Central Time Zone the action begins at 6:30 p.m. and on the West Coast it will be showing at 4:30 p.m.

The Olympics Opening Ceremony is said to have cost somewhere around $40 million. Award-winning and highly acclaimed director and producer Danny Boyle will be in charge of running the show in London. 

Helping Boyle bring the performances to life are four producers; Stephen Daldry (Creative Executive Producer), Mark Fisher (Production Design), Hamish Hamilton (Broadcast) and Catherine Ugwu. 

These four members have won Grammys and have directed concerts from some of the most legendary musicians in the world. Anything from Jennifer Lopez to the Super Bowl to the Rolling Stones, these producers have been a part of epic shows.

The theme of the night will be based on Shakespeare's play "The Tempest." British humor and wit should be expected. 

Thousands of performance will make the ceremony spectacular. 

Boyle will try to pay homage to the past as well as show British creativity through the performances. 

Following the ceremony, Archery will be the first Olympic event to take center stage.