GRAMMYS 2024
How much money does each artist earn for winning a Grammy Award?
Winning a Grammy can be beneficial in many ways. It can provide musicians with a “Grammy bounce”, enhancing their career and sales.
Can winning a Grammy award help artists to expand their audience reach? Are there any financial benefits to winning a Grammy? We will take a look at these questions and more...
The 66th edition of the Grammy Awards will take place tonight from Cypto.com arena in Los Angeles. At the event, major stars from the music industry and those who are just starting their careers will be hoping to take home some of the most coveted awards in the business. However, it’s important o note here that there are no cash prizes associated with winning a Grammy award and those who are lucky enough to be a recipient are not allowed to sell their statuette as that is against the rules of the Recording Academy, the organization that presents the awards.
But that doesn’t mean there are no other financial benefits for winning...
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Un paralleled exposure for winning ‘Best New Artist’ award
For artists who are just starting out and getting their foot in the door, there are few better ways of gaining exposure to a global audience than receiving the Best New Artist award. It provides what industry insiders have dubbed the “Grammy Bounce.”
Last year, the Best New Artist award was presented to jazz singer Samara Joy. It had an immediate impact on sales of her second album Linger Awhile, which shot to the top of a number of Billboard charts. Sales went through the roof - up 989% from those on its initial, September 2022 release - increase of 1,271% in digital song sales and 652% in on-demand streams.. Samara picked up two accolades in her Grammys debut, also taking home the award for Best Jazz Vocal Album.
Samara admitted that such prestigious recognition was beyond her wildest dreams. Winning not one but two Grammys has given her career and profile a massive push, taking her name around the world. “I just never imagined that anything like this would happen to me... and maybe that’s what everybody says, but like I just think of myself as this shy, young girl who just loved to sing, who looked up to her family... And to be here, passionately sharing music that I care about and have it be acknowledged in that way is really something that I’m so grateful for. I’m emotionally spent right now!”
Others have also benefited after receiving the award. Google picked up a significant increase in searches related to the winning artists, helping to attract a new audience of listeners. Similar trends can be seen for Billie Elish, Megan Thee Stallion and Olivia Rodrigo, the three previous winners in 2020, 2021 and 2023 respectively.
However, tracking exactly how much winning that award adds to the success of an artist in the long term is quite tricky. Analysts run into an issue because assuming that the award, rather than the artist’s talent, is what gives them a boost negates that the award is given to what is presumed “the best artists.”
There is sure to be some relationship between winning and future success because the awards go to those who industry insiders believe will go far in their careers.
Does winning a Grammy increase concert ticket sales?
In 2012, Forbes published a short article detailing how winning a Grammy could increase concert ticket sales for artists by around 55 percent.
While the article is over a decade old, it did find that with some stars like Bruno Mars, their average nightly gross revenue increased from $130,000 to $202,000.
Other asrtists, however, for example Taylor Swift, saw much more significant increase. The singer, who has won 12 Grammy awards and been nominated for 52 in total, saw her ticket sales surge over 380 percent, grossing from $125,000 before her most recent win in 2021 to $600,000 in just 12 months.