Kelly Ripa and Ryan Seacrest Tease 'Live' 's 'Really Good' 'After Oscar' Special — Watch the Opener

Kelly Ripa and Ryan Seacrest will host Live with Kelly and Ryan's annual After Oscar Show on March 28

Kelly Ripa and Ryan Seacrest are bringing their annual post-Oscars show back to Live with Kelly and Ryan on March 28 — and it's bigger than ever before!

This year's special episode of Live is pulling out all the stops and highlighting the glitz and glam from Hollywood's biggest night. Guest host Maria Menounos will represent the show on the red carpet while Carson Kressley and Eva Chen will break down the stars' most fashionable looks from the night. The post-Oscars show will also have the first interviews with some of Sunday's winners after they leave the Dolby Theatre stage.

PEOPLE has an exclusive look at the opener for the episode, which sees Ripa and Seacrest parodying some of the biggest films and memorable characters of the year. As Ripa sinks her teeth into Jessica Chastain's The Eyes of Tammy Faye and Lady Gaga's House of Gucci, Seacrest takes on Andrew Garfield's Tick, Tick…BOOM! and Tom Holland's Spider-Man: No Way Home.

"I believe this year's special will result in Ryan Seacrest receiving an Oscar nomination for next year," Ripa, 51, jokingly tells PEOPLE before continuing to praise her colleague. "His performance is really good. I just found out that he was playing Andrew Garfield in one of his performances, and I did not know that's who he was portraying. But now it makes sense."

Ripa adds, "Watching Ryan Seacrest navigate a Spider-Man costume is something we should all just have access to 24/7."

Seacrest, 47, says his "favorite" part of working on this year's opener was watching Ripa take on Chastain's portrayal of Tammy Faye, calling it "the highlight of my year." Continuing to describe the show's opener, Seacrest says the production is "more of a performance piece."

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"I have to be honest with you. With Tick, Tick...BOOM!, it took a few takes before I could get the lyrics and the timing down as well as the breath control on it. To Kelly's point, I may have captured a moment," he continues. "Now, it's a lot to live up to working with Kelly Ripa, who is a professional actor and who has been doing this for so many years on Live. So I feel a lot of pressure each year to come in prepared."

Compared to the daytime show's past post-Oscars specials, this year's show will incorporate more special effects, makeup artists and prosthetics. "This year, for the first time, prosthetics are being introduced [on our faces]," Seacrest teases as Ripa adds, "Obviously, we've worn prosthetics for years on other parts of our bodies."

Ahead of the annual post-Oscars special, Ripa and Seacrest will participate in a pre-Oscars show on Friday. Previous Academy Award winner Adrien Brody and reporter Sandy Kenyon will stop by as well. Additionally, several other stars will appear in a video detailing their favorite Oscar memories.

Live is also bringing back its Predict the Winners Ballot Contest, which allows an individual with the most correct answers to win a $10,000 grand prize. All viewers who submit a ballot will be entered to win $5,000.

Live with Kelly and Ryan's After Oscar Show airs Monday, March 28 (check local listings).

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