"Saturday Night Live" marked its 50th anniversary with the star-studded "SNL50: The Homecoming Concert" on February 14, featuring Cher, Miley Cyrus, and Arcade Fire. The continuation, "SNL50: The Anniversary Celebration," airs live on February 16 at 8 p.m. ET, with appearances from iconic alumni including Eddie Murphy, Tina Fey, and many others, alongside musical performances by Paul McCartney and Sabrina Carpenter. A red carpet show with Leslie Jones precedes the event. The documentary "Ladies and Gentlemen... 50 Years of SNL Music" is currently streaming on Peacock as part of the anniversary festivities.