Premise

The Pretenders, U2, Buddy Guy, the O'Jays and Percy Sledge are inducted in ceremonies held at the Waldorf-Astoria Hotel in New York City. The inductors include Neil Young (the Pretenders), Bruce Springsteen (U2), Eric Clapton and B.B. King (Guy), Justin Timberlake (the O'Jays) and Rod Stewart (Sledge). In the Non-Performer category, the honorees are Frank Barsalona, founder of Premier Talent Agency, and Seymour Stein of Sire Records.