The musicians accepted their awards at a glitzy ceremony in Stockholm on Tuesday. Each award is worth 1 million kronor ($159,000).
A moved Smith said she was “humbled and inspired” to receive the award. She thanked her family and band members and appealed to the audience to “turn their hearts and minds and resources” toward the famine in Africa.
The Polar Music Prize is typically shared each year by a pop artist and a classical musician. It was founded by the manager of Sweden’s legendary pop group ABBA, Stig Anderson, in 1989.
Previous laureates include Pink Floyd, Joni Mitchell, Bjork and Sir Paul McCartney.