The Five-Timers Club is the group of performers who have hosted SNL at least five times. SNL's first mention of the Club occurred on December 8, 1990, when Tom Hanks mentioned that it was his fifth appearance as host in his monologue:

Believe it or not, this is the fifth Saturday Night Live I have been lucky enough to host. Now, the first time you do the show, you can't believe you're here. You just can't believe it. Your head buzzes with excitement. The second time you do the show, it means you were funny enough to be asked back – and you're pushing a movie. The third time you do the show, the second time didn't go so well, and you have something to prove to yourself. The fourth time you do the show, you're just blatantly pushing a movie. But the fifth time you do the show is the most special time of all, because you get this [holds up a card] ...a membership card in the Five-Timers Club. Come with me... [walks off the stage] I'm gonna give you a chance to look in on one of the most exclusive clubs in the world.

After Hanks delivered his monologue, the show segued to a sketch set in a richly appointed private club, featuring Hanks and Five-Timers Steve Martin, Elliott Gould, and Paul Simon, who had actually only served as host four times. Then-writer Conan O'Brien appeared in a cameo as a doorman.

The second time the Five-Timers Club was mentioned was when Danny DeVito was inducted in 1993. The club was mentioned again after the mark was reached by hosts John Goodman (1994), Alec Baldwin (1994), Christopher Walken (2001), Drew Barrymore (2007), Justin Timberlake (2013), Ben Affleck (2013), Scarlett Johansson (2017), Melissa McCarthy (2017), Dwayne Johnson (2017), Jonah Hill (2018), Paul Rudd (2021), John Mulaney (2022), Woody Harrelson (2023), Emma Stone (2023), Kristen Wiig (2024), and Martin Short (2024).

In 2006, a sketch featuring Steve Martin and Baldwin introduced the Platinum Lounge, featuring only hosts that have hosted the show at least twelve times, on the occasion of Baldwin's 13th time hosting the show (Steve Martin had hosted 14 times at the time). Martin Short appeared as a waiter, as he would during many subsequent Five-Timers Club sketches. Since then, John Goodman has become the third person to host more than twelve times.

Timberlake's fifth appearance as host on March 9, 2013, featured the reappearance of the richly appointed club. The sketch featured club members Paul Simon, Steve Martin, Chevy Chase, Alec Baldwin, Tom Hanks, and Candice Bergen, and appearances from Martin Short and Dan Aykroyd. There were portraits of John Goodman and Drew Barrymore in the Five-T…

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For the first 12 seasons it was on the air (1975-1987), SNL frequently featured guest performances from standups, magicians, and other unusual entertainers who would do their own act on the stage in between sketches. It's a variety show element that was lost as the show made the cast the focus. Jack Black and Kyle Gass's comedy band Tenacious D is the only act to perform in one of these slots on the show since the 1980s.

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