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Why is Tom Petty so revered?

Simple. He writes songs people can sing. whether in public or tooling down the road in the car. If you write songs people can sing (poorly or not) you're going to be popular.

And they're easy to cover (incorrectly most of the time) in a band. And the crowd sings along.

Good point. I've seen Petty a couple of times and his concerts are essentially gigantic "sing alongs". The only artist I've seen that even comes close was The Eagles.
 
Well, all in all I think he built a music career "the old fashioned way", he earned it by working hard and being consistant. He has also been smart enough not to shoot himself in the foot, musically or personally. Just seems to be a class act, with a really solid and tasteful band.

This is coming from someone who is not a huge fan. In fact in 89 I bought tickets to a Petty show to see........

The Replacements, who were the opening act. A friend who arrived at my house late, plus horrible traffic, resulted in me MISSING the 'Mats (boy was I pissed). However, I found that I really enjoyed the Petty show, rather than coming away thinking it was "just ok".

Anyway - good for him, we could use more in the biz like him rather than all of the blowhards that are out there.

Personal fave - Without question, American Girl.
 
Ought to add that Mike Campbell is probably underrated as a guitarist - always plays just the right thing, and solos that are very melodic and inventive. He gets a chance to open up on "Mojo" more than on any of the band's other studio recordings. And I suspect that he's probably featured quite a lot on this year's tour.
 
Actually saw Petty and the Heartbreakers last night, great songs and a great band that gets it just right. Low key but still has that drive. I think the thing about his songs is that they resonate with people but they aren't formulaic like country songs that are designed to get a specific reaction, like that Hallmark card B.S. He leaves it open enough for the listener to find their own meaning in his lyrics. As for the band, everyone played the perfect part with the perfect tone on every song. He's also probably the most laid back frontman I've ever seen get such a great reaction from a huge arena packed with people. It was cool to see someone out there doing it on a big scale with no gimmicks or outrageous behavior.
 
Coming from Jersey, I saw him as kind of a Southern Springsteen. Both influenced by Americana, early rock and Dylan.

Back in the age of new wave frills, trendiness, MTV visuals, hi-tech gimmicks, and juvenile Heavy Metal Hair Bands, they had the 'common/thinking man' vibe. The people who get them, saw them coming up. But something changes when the up-and-coming musician becomes a mega-millionaire.