Let Loose Live, premiering on Sunday 29 May 2005, was an hour-long Australian live sketch comedy television programme loosely based on Saturday Night Live. At least two-thirds of each episode's content was broadcast live, requiring a large cast & crew. The show was broadcast on the Seven Network on Sunday nights at 8:30 PM, but was axed after just two episodes due to disappointing ratings. It was not replaced; instead, the Seven Network's regular Sunday night movies returned to the 8.30 slot.
Let Loose Live's cancellation was announced the day after the second episode aired. Tim Worner, Seven's programming boss, conceded that it did not live up to expectations despite being strongly promoted. According to OzTAM, 955,000 viewers tuned in to its pilot episode, but then the ratings plummeted almost by a third to 650,000 the following week. Not long after the cancellation, the Seven Network announced plans to reinstate the series during the summer season, but nothing came of it.
Prior to the show's debut, director Ted Emery remarked in an interview that Let Loose Live would either 'soar majestically, or crash and burn'.