Satin Records rejected rock and roll band Eddie and the Cruisers' last album ''A Season in Hell'' twenty years earlier. Now Satin launches an "Eddie Lives!" campaign to make more money off Eddie's image as a publicity stunt, despite their belief that Eddie is dead. The record label re-releases the band's first album, which becomes an even bigger hit than its first release. The "lost recordings" from ''A Season in Hell'' that were discovered in the previous film are released and become a major hit album.