The people's minimalist, Steve Reich has won the 2013 BBVA Foundation Frontiers of Knowledge Award for contemporary composition. The news came from Reich's publisher, Boosey & Hawkes, on Tuesday.

The award, in association with a Spanish financial services group, carries a cash prize of 400,000 euros (which roughly equates to $550,000) and will be presented at a ceremony in June.

According to the New York Times' ArtsBeat blog, Reich received the award because he has "carved out new paths, fostering a dialogue between popular and high culture and between Western modernity and non-European traditions, achieving a rich combination of complexity and transparency."

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