According to this article, Meatloaf suffers from a terrible case of television stage fright. From the article:
He said the only thing he remembers is the television people telling him that he had less than two minutes before he went on, and then he was walking off the stage and thought he was going to pass out.
He has no memory of what happened in the middle. He admits he sat down and began to "cry like a baby" afterwards.
Meat Loaf said that he's surprised he didn't die of a heart attack.
Wow. I feel REALLY bad now. Although I do wonder why he would agree to sing ...