Studio Ghibli receives Honorary Palme d'Or at Cannes Film Festival

Studio Ghibli has received the Honorary Palme d'Or at the Cannes Film festival a nod to the Japanese animation company's 40 years of creating masterpieces in the genre.

Director Miyazaki Goro and other studio representatives received a standing ovation as they collected the trophy at the awards ceremony on Monday. Miyazaki is the son of Studio Ghibli co-founder and legendary director Miyazaki Hayao, whose creations include the Oscar-winning "Spirited Away" and "The Boy and the Heron."