On November 16, at 5:30 PM PT/8:30 PM ET, Taylor Lautner, Robert Pattinson, Kristen Stewart and many others from the next Twilight Saga installment, New Moon, will be hitting the red carpet at the film’s world premiere in Los Angeles.

A live web stream on the film’s MySpace site will allow Twilight fans the opportunity to feel like they are there on the red carpet.

For one lucky contest winner, that experience will be more than virtual. Anya Marina, singer of “Satellite Heart” on the New Moon soundtrack, will host the broadcast, but the lucky winner of MySpace’s Red Carpet Correspondent contest will be co-hosting with her. Viewers, however, will still have the opportunity to post questions to the cast live on the red carpet.

Summit Entertainment’s film “The Twilight Saga: New Moon” has been heavily promoted using MySpace for a while now, with the first “New Moon” trailer appearing on the site and the New Moon soundtrack first premiering and streaming on the site as well.

The highly anticipated film will hit theaters on Friday, November 20 and it is likely that Summit Entertainment does not actually need the MySpace media campaign or red carpet live stream to guarantee high box office numbers, due to the already dedicated, humongous and growing, saga fan base. It definitely won’t hurt, though…

So…are you going to throw a premiere watching party or watch the live steam in the comfort of your own home?