How to watch tonight's 2023 Screen Actors Guild Awards, and why it matters for the Oscars

One of Hollywood’s biggest nights will look a bit smaller this year.

After more than two decades on television, the 29th annual Screen Actors Guild Awards will stream exclusively online this weekend. The genre-smashing “Everything Everywhere All at Once” and Irish dark comedy “The Banshees of Inisherin” lead the nominations with five apiece, including outstanding cast (SAG’s equivalent of a best picture Oscar). The ensemble nominees are rounded out by Steven Spielberg’s personal family drama “The Fabelmans,” as well as the star-studded “Babylon” and “Women Talking.”

Here’s everything else you need to know about the actor-voted awards and how you can watch the show:

Where can I watch SAG Awards 2023?

The SAG Awards will be broadcast live Sunday (8 p.m. EST/5 PST) on Netflix's official YouTube channel. Future shows will stream live on Netflix beginning in 2024, after airing on TBS and TNT for the past 25 years. The ceremony will be held at the Fairmont Century Plaza in Los Angeles. No host has been announced for the awards, which were host-free in 2021 and 2022.

Who are the presenters?

"Aftersun" Oscar nominee Paul Mescal is confirmed to present during Sunday's ceremony, along with Emily Blunt, Jessica Chastain, Aubrey Plaza, Jeff Bridges, Zendaya, Amy Poehler, Don Cheadle, Ashley Park, Haley Lu Richardson, Jason Bateman, Jenna Ortega, Adam Scott, Matt Bomer, Ariana DeBose, Eugene Levy, Quinta Brunson, Janelle James, Jenny Slate, Orlando Bloom, James Marsden and Mark Wahlberg.

Additionally, the stars of all five films nominated for best cast will introduce clips from their respective movies, including Rooney Mara ("Women Talking"), Michelle Williams ("The Fabelmans"), Diego Calva ("Babylon"), Brendan Gleeson ("The Banshees of Inisherin") and Stephanie Hsu ("Everything Everywhere All at Once").

Who is expected to win SAG Awards?

"Everything Everywhere" is near-unanimously predicted to take home best cast, according to pundits on awards site GoldDerby, putting it in pole position heading into Oscar night. After all but sweeping the season, Cate Blanchett is expected to pick up best actress for her career-defining performance in "Tár," although look out for the beloved Michelle Yeoh ("Everything Everywhere") as a strong potential spoiler.

Despite recent setbacks at the British Academy Film Awards, where they lost to stars of "Banshees," Angela Bassett ("Black Panther: Wakanda Forever") and Ke Huy Quan ("Everything Everywhere") are still favored to win SAG's best supporting actress and best supporting actor prizes, respectively. Best actor is a three-way race between Colin Farrell ("Banshees"), Brendan Fraser ("The Whale") and Austin Butler ("Elvis"), although the latter has the edge after his BAFTA and Golden Globes victories.

Who else will be honored?

Andrew Garfield will present the SAG life achievement award to his "Amazing Spider-Man" co-star Sally Field, a two-time Oscar-winning actress best known for roles in "Lincoln," "Norma Rae," "Places in the Heart" and "Forrest Gump." SAG's previous life achievement honorees include Helen Mirren, Robert De Niro, Morgan Freeman and Carol Burnett. The award recognizes career achievement and humanitarian accomplishment.

How are SAG Awards decided?

The SAG Awards celebrate movies and TV and are voted on by 122,600 eligible voters within the actors' union SAG-AFTRA. Because the trophies are entirely voted on by actors – who also make up the largest branch of the Academy of Motion Picture Arts and Sciences – the SAG Awards are often a reliable bellwether for future Oscars glory. Films such as "CODA," "Parasite" and "Spotlight" all won the best cast prize at SAG before taking home Academy Awards for best picture. The best actor and best actress Oscar winners have also both lined up with SAG for eight of the past 10 years.

On top of all that, the SAG Awards are one of the last major opportunities for this year's nominees to give a speech before Oscar voting opens March 2. With so many tight races, they'll be eager as ever to clinch some final votes from their peers.

Get ready for the Oscars:

• Tom Cruise is 'Top Gun': And more from the Oscar nominees luncheon

• Oscar nominations 2023: 'Everything Everywhere' leads with 11, Jamie Lee Curtis gets first nod

• 'I just wish Lisa Marie was here': Austin Butler calls 'Elvis' nod 'bittersweet'

• From 'Everything Everywhere' to 'Elvis': Here's where to stream these Oscar-nominated movies now

• 'I was in the wilderness': Brendan Fraser tearfully accepts Critics Choice best actor award

This article originally appeared on USA TODAY: SAG Awards 2023: How to watch tonight's show live on Netflix's YouTube