James Franco, Anne Hathaway

Now that the Golden Globes have come and gone, it's time to talk Oscars.

The actor, among other things, James Franco will take the stage at the famous Kodak Theatre on Feb. 27 alongside Anne Hathaway to host the Academy Awards.

So what do the pair have in store for Hollywood's big night?

"There will be some singing and some dancing," Franco told PEOPLE. "We haven't started choreographing that yet or rehearsing that, but there will be some of that."