( CNN ) -- The Rock and Roll Hall of Fame on Monday welcomed its newest inductees : Jimmy Cliff , ABBA , Genesis , The Hollies and the Stooges . Other inductees this year include individual recipients of the Ahmet Ertegun Award -- record executive David Geffen and songwriters Jeff Barry , Otis Blackwell , Ellie Greenwich , Barry Mann , Mort Shuman , Jesse Stone and Cynthia Weil . The induction ceremony was being held Monday night at the Waldorf Astoria Hotel in New York . The inductees `` represent a great cross-section of artists that define the broad spectrum and history of rock ' n ' roll and people that have contributed immeasurably to our business , '' Joel Peresman , president and CEO of the Rock and Roll Hall of Fame Foundation , said when they were named last year . The inductees were chosen by a voting committee of the foundation . Artists are eligible 25 years after their first recording is released . An exhibit featuring all the inductees opened Monday at the Rock and Roll Hall of Fame and Museum , in Cleveland , Ohio . Their stage outfits , instruments , handwritten lyrics , photographs and more will be on display through March 14 , 2011 . The museum -- which says it `` exists to collect , preserve and interpret the impact the Rock has made on our world '' -- features seven floors of exhibition space , spanning 150,000 square feet .
Induction ceremony held Monday night at the Waldorf Astoria Hotel in New York . The event was attended by more than 100 guests and included a performance from singer Barbra Streisand, who performed her hit song "People." Artists are eligible 25 years after their first recording is released .