To take part, you need to send a 30 seconds - 1 minute (max) film/video of you or your band playing to Rhythm of London Audition Team. A panel of judges will judge will select the top 100 performers, then the top 10 buskers will go to a public vote. It what will be a "busk off" or "Strictly Come Busking Idol X Factor" final, the overall prizes include a year's licence to busk on the Tube, plus a guitar signed & donated by Sting.
I'm still surprised that an official sponsor hasn't been found to replace thelondonpaper and Capital.fm who were last behind the buskers. Surely there'd be some music company that could get some benefit from advertising on the spots that millions of people pass each day?