Can Netflix save the SAG Awards' sinking viewership? Hollywood hopes so.

• Netflix will broadcast the Screen Actors Guild Awards live on its platform Saturday.
• For Netflix, it's an opportunity to continue proving its ability to handle live events.

Netflix will broadcast the Screen Actors Guild Awards live on its platform for the first time on Saturday. And while it's another opportunity for the streamer to continue to prove its mettle in live broadcasting after the disastrous "Love Is Blind" reunion last year, the SAG Awards and the rest of Hollywood are the most likely to benefit from the partnership — if Netflix can pull it off.

The 30th annual SAG Awards, streaming on Netflix globally at 8 p.m. ET/ 5 p.m. PT on Saturday, is an important event frequently serving as a precursor to the Oscars. However, their significance in its lead-up to the Oscars, arguably Hollywood's biggest night, has been in jeopardy as audiences have tuned out.

Viewership numbers have fluctuated over the past several years. In 2022, the show brought in 1.8 million viewers on TBS and TNT, according to Deadline. In 2021, the show's remote ceremony on TNT and TBS brought in 957,000 total viewers.

In 2023, Netflix broadcast the show on its social media channels. While YouTube tabulates views differently than Nielsen, Variety reported that the awards ceremony brought in 1.5 million overall views on YouTube, Facebook, and Twitter within the first 12 hours of broadcast.

Compared to ceremonies like the Oscars, which drew in 18.8 total viewers on premiere night in 2023, those numbers are relatively paltry.

The big question on everyone's mind in Hollywood is will the SAG Awards benefit from the well-documented "Netflix effect" or "Netflix bump." It's a phenomenon that's helped shows like "Suits" become streaming hits long after its premiere date. The gist is that Netflix, with its huge user base (100 million more subscribers than its closest competitor, Disney+, as of January), can revitalize old properties simply after they get added to the platform. It doesn't seem unreasonable that, should the broadcast go well, the same could apply to the SAG Awards, the first film and television awards show to find a broadcasting home on a streaming platform.

As The Los Angeles Times reported, it's also an opportunity to pioneer a new format for awards shows: one without commercials that presents the opportunity to fill up ad space with other behind-the-scenes content. And the star power will still be there. Barbra Streisand, for example, will be given the Lifetime Achievement Award.

The awards ceremony is also an opportunity for Netflix to continue establishing itself in the live event space. Previously, the streamer has broadcast events like Chris Rock's comedy special, "The Netflix Cup," its first live sports event featuring athletes from its sports docuseries, and a live baby gorilla camera. Of course, there was also that botched live "Love Is Blind" reunion, which was delayed due to a technical bug.

Ultimately, this Saturday's SAG Awards are a test in which both parties stand to benefit. With any luck (and a bug-free evening), they will — and it could set a new precedent for awards broadcasting in the future.

Netflix will broadcast the SAG Awards globally on Saturday, February 24, at 8 p.m. ET / 5 p.m. PT.