The network will be streaming the show across CC.com, mobile devices, tablets, and the CC:Stand-Up app available on Xbox 360 – no subscription required. The Xbox app will even be unlocked for the event, for all users.

The livestream will air along with the east coast broadcast of the roast,  meaning that west coast audiences will be able to enjoy the show three hours prior to the scheduled premiere in their time zone.

Such a simulcast could potentially cannibalize on-air ratings, but at the same time poses an opportunity for some serious social media domination, as cable-less fans can still access the special and join the conversation.  The encore presentation of the “Roast of James Franco” will also feature social media, with real-time tweets and posts from Facebook on screen.

No doubt, if Comedy Central’s livestream is successful – and I have a feeling it will be – we could see future similar events by more networks.

Comedy Central Roast of James Franco airs September 2nd, at 10 PM ET/PT.  There will also be a pre-show on the red-carpet hosted by Franco’s own grandmother, Mitzie Verne, and comedian Jonah Ray.

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