Do Artists Get Money For Winning a Grammy Award? This Is How Much Grammys Are Worth
Awards show season is here, and with it comes the same question time after time: Do celebrities earn money when they win? What about at the 2021 Grammy Awards?
The simple answer is no, artists don’t earn cash prizes alongside their pretty new trophies like athletes get for taking home the top spot at professional sporting events (looking at you, Tom Brady).
But that doesn’t mean awards ceremonies like the Grammys, the Oscars, the Emmys, and others are a complete waste of time. Even if the prize isn’t monetary, the talented stars do end up taking home some extra cash due to their win. Here’s how it works.
Grammy wins mean more money
Winning a Grammy means more than just getting to brag about it in upcoming magazine interviews. Those gold gramophone trophies are worth more than their weight when it comes to something very important for any recording artist – recognition.
They call it the “Grammy Bounce.” Any performer or producer who wins on the music industry’s biggest night can expect to see at least 55% more in concert ticket sales as compared to before they won. “It puts another level of mystique on your brand,” rapper/producer David Banner explained during an interview with Forbes. He says his producer fees doubled post-win, going from $50,000 to $100,000.
Famous musicians aren’t the only ones cashing in
Most people watch awards shows to see their favorite recording artists take home top prizes, like the coveted Album of the Year. But the people who mostly benefit from winning at the Grammys are the ones whose names you’ve never heard of.
Songwriters, producers, and other behind-the-scenes roles often enjoy the best benefits from Grammy wins. Those awards are more of a big deal for them. And it doesn’t matter what they won for – winning a Grammy opens all kinds of doors in just about any industry. It’s a huge accomplishment.
Artists sell more tickets when they win
But winning a Grammy is a boost for famous artists, too. Winners such as Bruno Mars and Taylor Swift saw huge boosts in ticket sales following their wins, which indirectly translated into more money in their bank accounts. The longer-term effects mean more recognition and higher earnings per event. Having a Grammy win in general means more clout — and more cash.
The goody bags are worth plenty
Awards ceremonies are many hours long. Attendees have to shop for expensive outfits ahead of time and get their hair and nails done. But many endure the process for one simple reason: the swag bags.
These aren’t your average goody bags. At the Grammys, attendees take home thousands of dollars’ worth of swag, including everything from perfume samples to weeklong getaways at the spa. The 2018 Grammy gift bag had an estimated total value of $30,000, Harper’s Bazaar reported. And the best part? You don’t even have to win to get a bag.
Winning a Grammy doesn’t mean you’ll win money. But once a winner, you’ll see a lot more money in your future, guaranteed.