The first song performed on 'Saturday Night Live' was 'Nothing From Nothing' by Billy Preston, a former associate of the Beatles and a master keyboardist. This performance marked a significant moment in the show's history, as it showcased the potential for music to enhance the comedic elements of the show. Preston's performance was followed by a performance of 'Fancy Lady' from his album 'It's My Pleasure'. The article also mentions the debut of the original 'Not Ready for Prime Time Players' cast, which included Dan Akroyd, John Belushi, Chevy Chase, and Laraine Newman. The show's first 'cold opening' sketch featured Michael O'Donoghue playing a teacher who dies of a heart attack, and the student follows suit. The article highlights the show's ability to attract big names and iconic performances, such as Sinéad O'Connor's protest against the Catholic Church and David Bowie's mainstream introduction of the New York avant-garde. It also mentions the show's potential to bring together legendary musicians, such as the Beatles, for a reunion. Overall, the article emphasizes the show's enduring popularity and its role as a platform for memorable performances and cultural moments.