The Vienna Philharmonic Orchestra, or VPO, has been awarded the 2014 Herbert von Karajan Music Prize, which honors the legendary Berlin Philharmonic conductor and carries a cash award of 50,000 euros ($68,000), the Festpeilhaus Baden-Baden said Tuesday.

The VPO was honored for its many decades of outstanding work, Festpeilhaus Baden-Baden director Andreas Mölich-Zebhauser said in a statement.

"The 2014 Herbert von Karajan Music Prize is being awarded to an orchestra that has, like few others, retained its specific sound over many decades and made it unmistakable," Mölich-Zebhauser said.

The "philharmonic idea" is to pass on "from generation to generation" the awareness that music is a living thing, Mölich-Zebhauser said.

The Vienna Philharmonic is expected to announce in the fall which young musicians' program will receive the 50,000 euros from the Von Karajan prize.

The Herbert von Karajan Music Prize, which was created in 2003, will be handed out at a gala on Dec. 12.

German violinist Anne-Sophie Mutter, the Berlin Philharmonic, Austrian pianist Alfred Brendel, Argentine-Israeli conductor Daniel Barenboim, Italian mezzo-soprano Cecilia Bartoli and Slovak soprano Edita Gruberova are among the past winners of the prize. EFE