Live musical events are creeping back into the American consciousness, almost two decades after the longest-running live musical show, “Hee Haw” wrapped up its 21-year run.

Last year, Craig Zadan and Neil Meron produced the live musical, “Peter Pan” with Allison Williams, based on their successful rendition of “The Sound of Music” with Carrie Underwood the year before — an event that grabbed the attention of an astounding 18.5 million viewers.

The same producers are responsible for “The Wiz Live!” (NBC, 8 p.m. ET), featuring high-wattage stars like Mary J. Blige, Queen Latifah, and Ne-Yo. The event is based on the 1975 Broadway musical that originally spawned the film of the same name, starring Diana Ross and Michael Jackson.

While the musical and movie were certainly revered by many, “The Wiz” never exploded in the pop culture lexicon. The 2015 version of “The Wiz Live!” however, is positioned to make a lasting impression due to the star quality talent involved, and the changing tastes of the viewing public. Advanced technologies, production techniques, and the novelty of the concept will ensure that Thursday’s event is one you won’t want to miss.

Related: American Songbook

First, consider that the cast behind this year’s “The Wiz” represents a commercial juggernaut, fueled by social media. While the leading stars (Blige, Latifah, Ne-Yo) have broad appeal to millions of fans through the mainstream media, even secondary players have been able to ramp up excitement, thanks to their impassioned, loyal followers.

David Alan Grier, playing the Cowardly Lion, is a comedic icon. Known for his work on “In Living Color” throughout the 1990s, he is certainly no stranger to the stage. Amber Riley (who played Mercedes Jones on “Glee”) brings vocal pyrotechnics to the role of Addapearle, while rapper-turned-Oscar-winning-songwriter Common has proven to be a versatile talent that moves seamlessly through a range of talents.

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The pedigree is in place for “The Wiz” to attract a sizable audience and the finesse to deliver a top-quality production. Simply put, expectations are high, and the anticipation of Thursday’s event promises killer performances (and no shortage of hilarious live tweets).

Expectations are high, and the anticipation of the event promises killer performances.

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Moreover, viewers are thrilled by the concept of live television, driven by the unpredictable nature of the medium and the instant water cooler of social media. Most live television today is limited to awards shows and competitions. Productions of this caliber present an entirely fresh genre of content now that technologies are catching up.

The live format for theatrical productions has seen resurgence only recently, likely spurred by improvements in production quality. “Hee Haw” aired for decades, but the quality felt outdated by the end. Cameras remained fixed, and audiences grew bored.

Related: Broadway’s Nostalgia Bug

The technical aspects of live storytelling are simply more effective now. In 2014, NBC released another live sitcom, “Undateable Live,” and it has drawn a consistent rating for primetime Friday night viewers. Other networks are taking note, with Fox bringing “Grease: Live” to their network in 2016.

With technology constantly changing, what once was old is new again as we look to slow things down and get back to enjoying life. Live television is part of this chorus of nostalgia. Long forgotten in a trail of dust left behind by DVRs, Netflix, and easy streaming options, live television is finally poised for a comeback.

What once was old is new again as we look to slow things down and get back to enjoying life.

Direct connections with celebrity on social media is boosting the visibility of these shows. Between that and the water cooler now on our hip in the form of smartphones and interactive tablets, the audience connection makes it an important cultural event, rather than just another show.

From its keen pick of talent to its production quality and technical expertise, the stars are aligning to make “The Wiz” memorable, and potentially trend-setting.