One Direction, U2's Bono, Ed Sheeran, Emeli Sande, Paloma Faith and Ellie Goulding are among the music stars who have been recording the Band Aid 30 single today.
They are singing a new version of Do They Know It's Christmas? to mark the 30th anniversary of the song - with proceeds this time helping in the fight against Ebola in West Africa.
It will be the fourth time the song has been recorded, with the most recent effort released a decade ago.
Rita Ora, Sam Smith, Coldplay's Chris Martin, Elbow, Disclosure, Seal, Jessie Ware, Sinead O'Connor and Clean Bandit are also taking part.
One Direction's Niall Horan arrived to loud cheers from fans gathered outside a west London recording studio.
He said: "To be involved and get invited by Sir Bob (Geldof) to do this is just insane, so it's a privilege to be here."
Asked what he hoped to achieve, he added: "Hopefully it gets to number one and it raises a lot of money for a really worthy cause."
Song organiser Bob Geldof revealed Chancellor George Osborne called him earlier to say the Government will waive VAT on the single, meaning all the money raised will go to charity.
He said: "The next stage now is to turn this into a phenomenon like it was in the 80s, and the only way to do that is to get people to buy the thing."
Geldof, who co-wrote the song with Midge Ure, also said he had been inspired to re-record the track because of the "phenomenal bravery of the NHS doctors and nurses who volunteered" to help the fight against the virus.
Some of the 2014 lyrics have been changed from the 1984 version to reflect the Ebola crisis.
The original words: "Where the only water flowing is the bitter sting of tears" have been replaced with "Where a kiss of love can kill you and there's death in every tear".
And the words: "Well tonight thank God it's them instead of you" have been changed to: "Well tonight we're reaching out and touching you." Bono sang the original line and is believed to be singing the new words too.
The 1984 lyrics: "And there won't be snow in Africa this Christmas time. The greatest gift they'll get this year is life. Where nothing ever grows. No rain or rivers flow. Do they know it's Christmas time at all?" have been changed to the following:
"No peace and joy this Christmas in West Africa. The only hope they'll have is being alive. Where to comfort is to fear. Where to touch is to be scared. How can they know it's Christmas time at all."
The original words: "Here's to you. Raise a glass for everyone. Here's to them underneath that burning sun. Do they know it's Christmas time at all?" have been altered to say:
"Here's to you. Raise a glass to everyone. And here's to them. And all their years to come. Let them know it's Christmas after all."
The 1984 chorus: "Feed the world. Let them know it's Christmas time again. Feed the world. Let them know it's Christmas time again. Feed the world. Let them know it's Christmas time again" has been changed to:
"Feed the world. Let them know it's Christmas time again. Feel the world. Let them know it's Christmas time again. Heal the world. Let them know it's Christmas time again."
After its original release - to help famine relief in Ethiopia, selling 3.7 million copies and raising £8m - it went on to be the launchpad for LiveAid and inspired numerous musical fundraising efforts.
The production team will be working against the clock to get the track completed in time for its first public performance during Sunday night's edition of The X Factor.
The new single, which will be available to download from 8am on Monday, is expected to raise millions to help ease West Africa's Ebola crisis.
:: The single will cost 99p to download or £4 to buy on CD, and is likely to be a firm favourite to take the Christmas number one spot.
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