The Screen Actors Guild has announced a name change for the annual Hollywood ceremony where it hands out prizes for excellence in film and TV acting.

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Instead of being known as the SAG Awards, the gala will now be called The Actor Awards.

"Since the beginning, our statue has been called The Actor and we're a show that's entirely about actors, so this new name is a perfect next step in the show's evolution," Jon Brockett, the Actor Awards showrunner and executive Producer, said in a statement Friday.

"The Actor Awards presented by SAG-AFTRA gives viewers in 190-plus countries an immediate understanding of who we are and what we're about."

This year's event is to take place on March 1. It will stream on Netflix.