Nirvana and Kiss are set to join the Rock and Roll Hall of Fame, alongside Hall & Oates, Peter Gabriel, Linda Ronstadt and Cat Stevens next year.
The 2014 inductees were chosen by over 700 voters (artists, historians and music industry professionals) of the Rock and Roll Hall of Fame Foundation.
The above musicians will receive exhibits at the Rock and Roll Hall of Fame and Museum in Cleveland in conjunction with the ceremony next year.
Artists become eligible for induction 25 years after their first recording.
The 29th annual induction ceremony will take place at the Barclays Center in Brooklyn on April 10, and will be open to the public. It will air on HBO in May.
"We know that engaging the music fans is a huge opportunity," says Joel Peresman, president/CEO of the Rock and Roll Hall of Fame Foundation.
"Once we decided to open the ceremony to the public in New York City, that had a huge impact on the decision to have it at Barclays Center."
"It gives them a chance to be a part of the ceremony."
For a second year, the Rock Hall implemented fan voting, which was available on its official site, and generated nearly 1.4 million votes this year.
The five artists with the highest number of votes (three of whom will be inducted) made up a fans' ballot, which counted as a single vote in the results.
Among fans, Kiss (239,000 votes) and Nirvana (218,000) coasted to easy victories, likewise among the overall voting body who inducted them.
Two artists that failed to receive Rock & Roll Hall of Fame induction despite swells of public support were Yes (151,000) and Deep Purple (166,000).
Those two groups were beaten out in the overall balloting by Hall & Oates (113,000), Peter Gabriel (111,000), Linda Ronstadt (85,000) and Cat Stevens (75,000).
Aside from Kiss and Stevens, who first received Rock Hall nominations in 2010 and 2006, respectively, the Class of 2014 is made up of first-time nominees.
And although fans may believe that many of the 16 artists nominated were long overdue for induction, Peresman assures that no artist is ever considered a "natural."
"All of the 2014 inductees introduced us to something new," Peresman says.
"They might have drawn from their predecessors or built on what came before them, but they all took something from their roots. They transformed it."
"They made it their own and brought it to the world at the right time."
Additional honors will be given to late Beatles manager Brian Epstein and former Rolling Stones manager / producer Andrew Loog Oldham for lifetime achievement.
The award for musical excellence (formerly known as the sidemen category) goes to Bruce Springsteen's longtime backing group, the E Street Band.
What do you think of the Rock & Roll Hall of Fame 2014 class?