LED ZEPPELIN were named the recipients of the annual Polar Music Prize by the Royal Swedish Academy of Music in Stockholm on Monday (Nov. 7). Watch the announcement video at this location.

The citation issued by the Academy called LED ZEPPELIN "one of the great pioneers of rock" and commented that the band‘s "playful and experimental music combined with highly eclectic elements has two essential themes: mysticism and primal energy," according to Billboard.com.

King Carl XVI Gustaf of Sweden will award the one million Swedish kronor prizes May 22 at a gala ceremony at Konserthuset, the Royal Stockholm Philharmonic Orchestra‘s concert hall, where the annual Nobel Prize ceremony is held.

The Polar Music Prize is awarded annually based on nominations submitted by the board of the Stig Anderson Music Award Foundation, consisting of representatives from the family of the late ABBA impresario, the Swedish Society of Popular Music Composers (SKAP) and the Swedish Performing Rights Society (STIM).