The 2014 Golden Globe Awards will officially kick off this year's Oscar's season, and tonight, Hollywood is preparing for another annual event that will celebrate 2013's blockbuster movies and hit television programs. The star-studded event will be live on NBC, Jan 12, Sunday, starting at 8 pm ET to be hosted by returning hosts, comedy stars Amy Poehler and Tina Fey.

For live streaming, fans can watch the Live Stream of the Red Carpet on E! Online featuring Catt Sadler and Jesse Giddings as hosts starting at 5:55 pm EST as the pre-show will start at 7 pm ET. For highlights and winners of the event, NBC.com will provide all the juicy details that viewers need for the event live at the Beverly Hilton Hotel in Beverly Hills, California.

The Hollywood Foreign Press Association's annual bash will welcome the industry's hottest stars and as what last year's hosts said, "the beautiful people of film rub shoulders with the rat-faced people of television." For this year's nominees, there are a number of British stars up for awards at the Globe including Judi Dench, Emma Thompson, Helen Mirren and Janet McTeer.

The Globes is an all-encompassing award body recognising both film and TV achievements, while its cinema is divided into two genres: drama and musical or comedy. One of the biggest parties of the year, the 2014 Golden Globe Awards will wine and dine its guests while two of "Saturday Night Live" alum will dazzle its audience with their witty humor.

The 71st Annual Golden Globes' nominations are headed by Steve McQueen's "12 Years a Slave" and "American Hustle" with seven nominations each. For TV category, "House of Cards" and HBO's "Behind the Candelabra" are the leading the nominees with four nods each.

Australian actress Cate Blanchett is a solid contender for Best Dramatic Actress category, thanks to her outstanding performance in Woody Allen's "Blue Jasmine." But Sandra Bullock's performance in the outer space drama "Gravity" cannot be ignored as well. She recently won Best Dramatic Actress on "People's Choice Awards."

British actor Chiwetel Ejiofor in "12 Years a Slave" has a big chance to take away the Best Dramatic Actor award, that is if he could beat Idris Elba in the same category as he plays Nelson Mandela in the movie "Nelson Mandela: Long Walk to Freedom."

The 2014 Golden Globe Awards features a long list of presenters including "Thor: The Dark World" star Chris Hemsworth, "Game of Thrones" Emilia Clarke, "Behind the Candelabra's" Matt Damon and "Wolf of Wall Street" Leonardo DiCaprio.