Metallica will receive the Polar Music Prize, a musical equivalent to the Nobel Prize, this spring.
The award, which recognizes international excellence in music, will bestow the metal legends with a cash prize of one million Swedish kronor, roughly equivalent to $126,000. The band will donate the money to its own All Within My Hands organization, which aids communities in need with workforce education, food-bank donations and other local services.
Metallica drummer Lars Ulrich said, “It puts us in very distinguished company. It’s a great validation of everything that Metallica has done over the last 35 years. At the same time, we feel like we’re in our prime with a lot of good years ahead of us.”
Frontman James Hetfield added, “As myself and as Metallica I’m grateful to have this as part of our legacy, our history.”
Past Polar Music Prize recipients include Paul McCartney, Paul Simon, Patti Smith, Björk, Pink Floyd, Led Zeppelin, Stevie Wonder, Bruce Springsteen, Elton John and Quincy Jones.