Cue the music. Hit the lights. Drum roll, please.

The selection committee for the College Football Playoff issued its first ranking of the season on Tuesday night, a much-awaited list of contenders for the final four spots.

The announcement got theatrical treatment with an hour-long show on ESPN and even a little drama.

Alabama is atop the heap, as expected. Clemson is in the second spot, ahead of Michigan, in the wake of last weekend’s clutch victory over Florida State.

The big twist was one-loss Texas A&M at the No. 4 spot ahead of unbeaten Washington, which could be seen as either a nod to the Aggies’ tough schedule or yet another case of anti-Pac-12 bias.

“The margins are razor-thin,” committee member Kirby Hocutt said to ESPN.

Hours earlier, when asked about the impending announcement, Washington Coach Chris Petersen insisted his players would not place too much importance on mid-season rankings.

“They get it, how much football is left to be played,” Petersen said.

Consider that, last season, only two of the initial top four reached the playoff. In 2014, only one held on. So a lot can change between now and Dec. 4 when the semifinal teams are set in stone.

The initial ranking was perhaps more useful as a glimpse at several issues the selection committee could face in coming weeks.

No. 6 Ohio State and No. 7 Louisville — both with one loss — remained within striking distance, though the committee seemed lukewarm about Louisville’s strength of schedule.

Next came No. 8 Wisconsin and No. 9 Auburn, each with two losses but with impressive performances of late. Nebraska landed at No. 10 with a chance to rise — or sink — against the Buckeyes this weekend.

There were a few mild surprises down the list.

Penn State got much respect for its upset win over Ohio State at No. 12. The Big 12 Conference, meanwhile, seemed all but finished.

Two weeks ago, the conference drew widespread criticism for its handling of expansion plans, with officials interviewing a raft of schools, holding long meetings, then deciding to do nothing.

Previously undefeated Baylor and West Virginia subsequently lost on Saturday night, leaving them at 17th and 20th, respectively, in the CFP ranking. Oklahoma became the conference’s best hope at No. 14.

If the longshots have a chance, it might rest with the nature of the selection committee.

This isn’t like the polls, with individual reporters or coaches casting votes from the privacy of their offices, working in a vacuum.

The 12 committee members gather from around the country for two days each week to hash over their picks. The CFP’s executive director, who formerly headed the Bowl Championship Series and the NCAA men’s basketball tournament, likes to think this face-to-face process fosters more thoughtful assessment.

“We have these experts sitting around the table, analyzing every aspect of all the teams and comparing their analyses,” Bill Hancock said. “It allows for a deeper dive into the teams.”

The committee goes a step further, dividing contenders into groups of six so that teams in the same ranking vicinity can be directly compared to each other.

“The committee looks them up and down and crosswise,” Hancock said.

Not all the decisions focus on who will reach the playoffs, not in a system whose nuances — and nomenclature — can be endless.

Teams in the so-called Group of Five — the second-tier conferences — are battling for a guaranteed spot in a coveted New Year’s Six bowl game.

Boise State looked to be a favorite until it slipped to No. 24 in the wake of last weekend’s loss to Wyoming. Now undefeated Western Michigan has a slightly shorter route from the No. 23 spot.

Even P.J. Fleck, the optimistic and uncommonly talkative Western Michigan coach, refused to look too far ahead.

“That’s like me picking a date and saying, hey, when will the world end?” he said last week. “That’s all speculation and rumors … but it’s fun for all of you.”

The fun will continue with weekly votes, bar room debates and Tuesday night broadcasts. Think of the first CFP rankings as a pilot for a mini-series that will run into December.

“I won’t look at it,” Ohio State Coach Urban Meyer said, quickly adding: “I’m sure people will tell me about it.”