The Backstreet Boys and New Kids on the Block's highly anticipated London show is set to stream live on the internet.

The pop groups have announced their April 29 concert at the 02 Arena will be broadcast across the globe on their Facebook pages.

It will cost $4.99 to watch the live stream. Livebeats, the company co-producing the event with ABC Entertainment, will provide the player in high definition.

Livebeats has provided live streams for bands in the past including Korn and Scooter as well as for the world premiere concert of Robin and RJ Gibb's The Titanic Requiem.

The news comes after the Backstreet Boys and New Kids on the Block revealed their plans to cast the show live on cinemas across Europe earlier this month.

Backstreet Boys member Howie D has said he "can't wait" for fans to see the band's new cinema cast.

"It's so exciting to know that even though we weren't able to bring our show to certain places in Europe our fans will still have the opportunity to experience it like they were there," he exclaimed in a statement.

"We can't wait for everyone to see the show!"

The event will be the shown in more than 300 cinemas in the UK & Ireland, Germany, Austria, Switzerland, Italy, Holland, Denmark, Norway, Sweden, Finland, Latvia, Estonia and Lithuania.

Frank Volpe, who is coordinating the cinema cast, has said the pop groups were a joy to work with and hopes the event is a big hit.

"Working with New Kids on the Block and The Backstreet Boys is such a perfect opportunity to reach out to markets that already clearly enjoy the cinema experience and will highlight this ground-breaking development as a route all bands and artists will have the opportunity to embrace in the next ten years," he said of the event.