Laraine Newman Says Lorne Michaels Initially Thought SNL Would Only Run for '13 Weeks' (Exclusive)

Laraine Newman vividly recalls the early days of Saturday Night Live and how its creator, Lorne Michaels, had no idea the show would last beyond a few months.

"When Lorne pitched the show to me, he said, ‘It’s 13 weeks with a five-year option,’" Newman tells PEOPLE of the SNL creator. "I thought, like that will ever happen."

Now, 50 years later, SNL is still going strong, and Newman, one of its original cast members, reflects on being part of such an enduring legacy.

"No one could have imagined it would last this long. Nothing lasts 50 years!" she says, still in disbelief at the show's ongoing success.

Newman, who is set to host Hollywood, Health & Society’s 2024 Sentinel Awards on Oct. 24, also celebrates another 50-year milestone in 2024: The Groundlings, the legendary comedy troupe where she got her start, like many other famous comedians.

"It’s surreal," she says. "The Groundlings, like SNL, has shaped so much of modern comedy. I would have never imagined we’d be looking back at five decades of influence from both."

Hosting the Sentinel Awards is a full-circle moment for Newman, who’s seen firsthand how television can shape cultural values.

"I’ve always thought about how TV reflects the anxieties, beliefs, and values of culture. It also helps shape them," she explains. "Presenting issues through storytelling can be really effective on a systemic level, and this event celebrates the shows that do just that."

The awards ceremony, which honors "some of the past year’s best TV entertainment that impacts audiences with meaningful storylines on critical topics," per a press release, will also honor legendary TV producer Norman Lear, who Newman holds in high regard.

"Norman hosted SNL, and he was absolutely terrific," shares the Emmy and Annie Award-nominated performer. "I love when we have people on the show who aren’t actors. The pressure is off, and they can really shine. Norman was one of those who really did."

Newman’s career has spanned multiple generations of comedy, from her early days at The Groundlings to becoming one of SNL’s original cast members — the latter of which will be featured in the new film, Saturday Night.

And while she was the youngest on the SNL cast, she recalls some playful teasing. "John Belushi and Dan Aykroyd would call it ‘The Groundhogs,’" she laughs. "But I eventually figured it all out."

Throughout her time on SNL, Newman became known for some of her most iconic characters like Connie Conehead, Valley-girl Sherry and Miss Christie Christina. She was also inducted into the Television Academy Hall of Fame in 2017 for her part in the original cast. 

As SNL approaches its 50th anniversary, Newman reflects on her time on the groundbreaking show and the legacy it continues to build.

"It was such a unique experience, and I’m proud to be part of something that’s had such a lasting impact," she says.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories. 

Saturday Night Live airs Saturdays at 11:30 p.m. ET on NBC.