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Thanks to Will Ferrell's hit Netflix movie, Eurovision has a higher U.S. profile than ever before – American viewers can watch the 2021 contest, which is taking place this week in Rotterdam, live on Peacock. But what exactly is this weird and wonderful song contest that attracted a global audience of 182 million in 2019? Here are 10 things to know ahead of Saturday's grand final.

1. It's one of the longest-running TV programs in the world.

Eurovision has been held annually since 1956, with the exception of 2020, when the pandemic rendered it impossible. The inaugural 1956 event featured just 14 European countries, but this year 39 nations have sent a competitor including Australia, who have been Eurovision mainstays since 2015 despite lying on the other side of the world. In fact, Australia came close to winning in 2016 when Dami Im finished second with her bombastic ballad "Sound of Silence." As with so many things Eurovision, it's best not to question it and just go with the flow.

2. The format is pretty simple.

Each year, every competing country sends one solo performer or group performing an original song to the contest. Most – but not all – will get to perform at the grand final after making it through the semi-finals.

At the grand final, after all of the acts have performed their song, each country awards two sets of points to its favorite 10 performances: 12 points for the best, 10 for the second-best, and then eight points descending to one point for the next eight. The first set of points is awarded by the country's expert jury, while the second is awarded by the country's viewing public. After all votes are in, the country with the highest overall score is declared the winner.

Norway holds the ignominious honor of finishing bottom with an overall score of "nul points" – or zero points – on no fewer than four occasions.

3. Ireland are the all-time champs with seven wins.

Sweden are right behind with six victories, followed by the United Kingdom, France, Luxembourg, and the Netherlands with five apiece. The U.K.'s most recent victory came in 1997 when Katrina and the Waves, the Anglo-American band best known for their '80s hit "Walking on Sunshine," won with their heartfelt power ballad "Love Shine a Light."

When Eurovision wasn't able to take place in 2020, a special Eurovision replacement show was arranged featuring this poignant socially distanced version of "Love Shine a Light." It features every performer who was due to compete at that year's contest, plus Katrina Leskanich herself right at the end.

4. However, the U.K. has really struggled at the contest during the last two decades.

Since 2001, the U.K. has only finished in the top ten twice. In the same period, it's placed last in the grand final on four separate occasions. This disappointing record is often blamed on so-called "political voting," a phenomenon where countries in continental Europe tend to award top points to neighboring nations in a show of diplomacy. The U.K. has one one very close neighbor, Ireland, so does seem to have something of a geographical disadvantage. And in recent years, Brexit probably hasn't helped matters, either.

Still, it's also hard to deny that some of the U.K.'s recent entries have been rather polarizing – check out Scooch's airline-themed 2007 effort "Flying the Flag (for You)," a song that was almost too shamelessly campy even for Eurovision.

5. If you win the contest, you have to host it the following year.

Which meant that when Ireland won four contests in five years in the '90s, the country's public service broadcaster RTÉ had to arrange and help to pay for some very expensive live shows. A rumor at the time – which was never proven – suggested that the country deliberately sent songs that didn't have a chance of winning in the next few years to avoid having to throw another lavish party.

6. Only six countries automatically progress to the Grand Final.

These are the host country and the so-called "Big Five" – France, Germany, Italy, Spain, and the U.K. – who contribute the most money to contest organizers the EBU (European Broadcasting Union). Every other country has to compete in the semi-finals to win a place in the grand final, and this year 13 of them won't make the cut.

7. ABBA got their big break at Eurovision.

The Swedish pop icons won the 1974 contest in Brighton, England, with their irresistible banger "Waterloo," which duly became their first global smash. In 2005, "Waterloo" was voted the greatest Eurovision song of all time.

8. As did Celine Dion.

Representing Switzerland, the Canadian diva won the 1988 contest with the French-language song "Ne partez pas sans moi." Other huge stars to have competed at Eurovision over the years include Olivia Newton-John, Julio Iglesias, and Bonnie Tyler.

9. It is beloved in the LGBTQ community.

Eurovision has such a huge LGBTQ fanbase that it's sometimes called "the gay Olympics."

Because of its global audience, it's well positioned to promote queer visibility. In 1998, Israel's Dana International became the first trans woman to compete in the contest and made headlines when she won the whole thing. To this day, her sassy dance banger "Diva" remains a fan favorite.

Several drag performers have performed at Eurovision too, including Conchita Wurst, who won the contest for Austria in 2014 with her stirring power ballad "Rise Like a Phoenix."

10. Quirkiness is often rewarded.

There's no formula for a successful Eurovision song: some are emotional ballads like Duncan Laurence's "Arcade," which won the contest for the Netherlands in 2019. It's since become a big hit on TikTok and been streamed more than a billion times.

Others are much more raucous. Check out the previous year's winner, "Toy" by Israel's Netta, a thumping feminist anthem that incorporates chicken noises into its beat.

At Eurovision, anything goes, as long as it's carried out with conviction.

Will you be watching the Eurovision grand final Saturday?