1974 Soul Classic, Performed on ‘SNL's Historic First Episode, Became a No. 1 Hit

Musician Billy Preston became known for a part of his career as a sideman extraordinaire, having worked with George Harrisonand the Beatles. By the early '70s, Preston released some memorable hits as a solo artist that landed him on the charts and cemented him as the first musical act on Saturday Night Live.

In 1974, Preston released the track "Nothing for Nothing", written by him and Bruce Fisher, on the album The Kids & Me. It would become the second biggest hit of his career, with him having released "Will It Go Round in Circles" the year prior. "Nothing for Nothing" would go on to reach No. 1 on the Billboard Hot 100 charts and would stay in the charts for an impressive four and a half months.

The backstory behind the track's title differs. American Songwriter details that Preston simply liked how the title sounded and thought it would be a good start to develop the track. Meanwhile, SongFacts reveals that "Nothing for Nothing" is based on the phrase "Nothing from nothing leaves nothing." It's a variation of a line from Bob Dylan's "Like a Rolling Stone" track. He reportedly developed the No. 1 track in the dressing room of a nightclub he was performing at and developed the saloon piano it became known for.

"The saloon piano gave it character," Preston explained, "and I had a feeling it would be a hit because it was a singalong kind of thing."

Preston's "Nothing for Nothing" would go down in history for another reason. In October 1975, Lorne Michaels' Saturday Night Live premiered its very first episode and would change the history of sketch comedy series. It introduced some of comedy's biggest stars like John Belushi, Chevy Chase, Gilda Radner, Garrett Morris, and Dan Aykroyd.

Amid the memorable sketch comedy acts, laughs, and chaos, SNL also introduced live musical segments performed by some of the biggest names in music. It just so happens that Preston was one of the first music guests on SNL performing "Nothing for Nothing." He would also perform "Fancy Lady, with Jani Ian also being the second performer of the night with "At Seventeen" and "In the Winter."

In 2024, singerJon Batisteperformed a cover of "Nothing for Nothing," portraying Preston in the biographical comedy drama Saturday Night.

Related: 1972 Soul Ballad, Originally Dismissed as a Hit Track, Became a No.1 Heartbreak Anthem

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This story was originally published May 27, 2026 at 10:43 AM.