On Wednesday night, Tom Petty accepted the American Society of Composers, Authors & Publishers (ASCAP) Founders Award at the 31st Annual ASCAP Pop Awards in Los Angeles, CA.

The ASCAP Founders Award honors pioneering songwriters who have made exceptional contributions to music, inspiring and influencing their fellow music creators.

Tom was introduced by Jackson Browne who was preceded by a two song performance from Lucinda Williams. Lucinda and her band covered "Rebels" and "Runnin' Down A Dream."

Upon taking the stage to receive the award, Tom spoke from the heart.

On songwriting, Tom said: "You know magic, magic is always a trick, but with a song it's really magic. You can sit there and suddenly some cosmic line is opened and boom,

in minutes it's appeared and it's a real magic because it makes people happy, it makes them feel good, it brings people out of comas. It does so many great things.

On rock and roll, Tom said: "Rock 'n' Roll is one of the greatest things,because it makes you feel good; but done at it's very best, you feel cool, and that's a great reward."