Paul McCartney collects Songwriter's Songwriter Award at NME Awards 2014 with Austin, Texas
Damon Albarn hands the special gong to The Beatles icon at 02 Academy Brixton
The awards are currently taking place at O2 Academy Brixton in London and are being hosted by BBC Radio 1 presenter and NME columnist Huw Stephens.
In Pictures - Rock stars hit the red carpet at the NME Awards 2014
Paul McCartney collected his special award from Damon Albarn, who said: "I love him like millions and millions and millions and millions of other people."
Arriving onstage to accept the award, McCartney banged his fist on the podium and said: "Thank you...First of all let's hear it for the NME. Gotta give it up for the NME, man. Oh memories. It's been going longer than I have. I saw the very first picture of Elvis Presley in the NME...Finally we got down to London and got to meet the people on the NME."
He then added: "The great thing about songwriting is, we don't know how we do it, so we can't talk about it. So thank you!"
Earlier in the evening Arctic Monkeys picked up the first award of the night at the NME Awards 2014 with Austin, Texas. They collected the prize for Best Live Band supported by Gig Buddy. The Sheffield band received their award from Pulp frontman Jarvis Cocker ahead of competition from Haim, Biffy Clyro, Queens of the Stone Age Palma Violets and Savages.
Performances still to come tonight include those from Best New Band nominees Drenge plus The Horrors and Blondie, who have been named this year's Godlike Genius. The iconic band will collect the award in person and perform at the end of the show. In addition, Belle & Sebastian will receive the Teenage Cancer Trust Outstanding Contribution To Music Award and will also perform live.
The NME Awards 2014 with Austin, Texas are being streamed live for the first time in its history this evening. Watch all the action from 8PM at www.nme.com/awards.