This understandable thirst for a Grammy has led some fans to wonder if there's also a monetary prize for landing yourself a Grammy. Worldwide acclaim and a hefty check? Sounds good to me. Here's what we know about the money behind Grammy awards.
Do artists get money for winning a Grammy?
The short answer is no: Artists, producers, and/or songwriters do not get a check or monetary amount for winning an award. But what they do get, however, is a whole lot of recognition, and they'll forever be known as "the Grammy award-winning singer _____."
But even though The Recording Academy doesn't give out physical checks with statuettes, Grammy winners still report an upward tick in their concert ticket sales and producer fees after they snag an award.
In 2012, Forbes sampled a number of performers and producers, and they all showed a "Grammy Bounce" of at least 55% in concert ticket sales and producer fees in the year after a Grammy win. David Banner, a rapper/producer who won a Grammy for his work on Lil Wayne s Tha Carter III album, said that his producer fee went from $50,000 to $100,000+ after his win.
And acts can also score more money in their touring numbers. In the years after winning their first Grammy, Bruno Mars' average nightly gross went from $130,000 to $202,000, and Esperanza Spalding's jumped from $20,000 to $32,000. And Taylor Swift? Her nightly gross soared from $125,000 to $600,000 in 2010a 380% increase.