02/18/2014 05:47 EST | Updated 02/18/2014 05:59 EST

Arcade Fire, Drake, Hollerado Videos Nominated For Prism Prize

Arcade Fire have two videos nominated from their "Reflektor" album as part of the Prism Prize Top 10 list which also includes videos by Hollerado, Drake and Young Galaxy among others.

Arcade Fire are nominated for video for their title track, directed by Anton Corbijn, as well as "Afterlife, directed by Emily Kai Bock. She's actually a double-nominee thanks to her video for "Childhood's End" by Majical Cloudz. The director was quite pleased with the nominations as she tweeted the following:

Meanwhile, other artists responded on hearing the news via Twitter:

The $5000 prize will be handed out on March 23 and is based on "originality, creativity, style, innovation and effective execution." A jury of media professionals including artists, filmmakers and music journalists will meet one more time to decide on the winner. A short list clip via YouTube was also posted highlighting the nominees.

Elsewhere other nominees include Drake's "Started From The Bottom" (directed by X), Young Galaxy's "New Summer" (directed by Ivan Grbovic), Shad's "Fam Jam" (Che Kothari), The Belle Game's "River" (Kheaven Lewandowski) and Hollerado's "So It Goes" (Marc Ricciardelli). Rounding out the list are Keys N Krates "Dum Dee Dum" (Amos LeBlanc) and Jessy Lanza's "Kathy Lee" (Lee Skinner).

In addition to the top prize, there are also three other awards to be handed out: the Audience Choice Award, the Prism Prize Special Achievement Award for "artistic achievements and exceptional contribution to music video art on a world stage" and the Arthur Lipsett Award for innovative and unique forays into music video art.

The prize had its inaugural ceremony last year with Rich Aucion's "Brian Wilson Is A.L.I.V.E" (directed by Noah Pink) winning the Grand Prize. Meanwhile, Arcade Fire's "Sprawll II" (Vincent Morisset) earned the Audience Award. Drake was also an inaugural nominee with "HYFR."

Watch the full nominated music videos here: