MTV today announced a big change to its venerable MTV Movie Awards, which will now be the MTV Movie & TV Awards. This year’s expanded program is scheduled for Sunday, May 7, when the ceremony will air live from the Shrine Auditorium in Los Angeles.

The daylong celebration will kick off with the inaugural “Movie & Television Festival” fan event. The channel is billing the awards as “the ultimate celebration of young Hollywood’s best WTF to WOW performances across film and TV.”

The nominees, performers, presenters and host will be announced at a later date.

Said Chris McCarthy, president of MTV: “We’re living in a golden age of content, and great storytelling and characters resonate regardless of whether you’re watching it in a theater or on TV. The new ‘MTV Movie & TV Awards’ will celebrate even more of the brightest, bravest, funniest and most shared films and TV shows resonating across youth culture.”

Outside the Shrine, the inaugural “Movie & Television Festival” will feature live musical acts, special guests and food throughout the day.

“The afternoon will culminate with attendees being treated to a front row spot for viewing celebrity red carpet arrivals for the evening’s main event,” MTV noted.