The Nobel Prize committee announced today that American songwriting legend Bob Dylan has been awarded the 2016 Nobel Prize for Literature. As the first songwriter to win the coveted literature award, The Dylan joins the ranks of other notable laureates from the likes of Gabriel García Márquez, Seamus Heaney, Pablo Neruda, and Toni Morrison. He was awarded based on “having created new poetic expressions within the great American song tradition”–which many fans from the past 5+ decades can agree. Along with being apart of the Nobel legacy, the Nobel Prize for Literature comes with a cash prize of 8 million Swedish Kronor (which is just shy of $1 million USD).

Watch the Nobel committee’s permanent secretary Sara Danius formally announce Bob Dylan’s award and speak about his impact as a songwriter below.