JOHANNESBURG - The 60th Annual Grammy Awards ceremony was held on January 28, 2018, with the ceremony broadcast live across the world from Madison Square Garden in New York City.
When it comes to the question of whether or not artists get paid for winning a grammy, the simple answer is no. Arists do not walk away with a physical cheque in tow, but the mere association to the Grammy’s, however, does have them reaping substantial financial gain in the long run.
Forbes magazine reports that performers and producers see a “‘Grammy Bounce’ in the ballpark of 55% for concert ticket sales and producer fees during the year following a Grammy win.”
According to the publication, superstars like Beyonce and Rhianna who typically cash in millions in appearance and performance fees, don’t get paid a cent when they grace the grammy's. Grammy award winners do not get a cheque for winning either, but there are other means to profit from the actual award.
American rapper and record producer, David Banner told the publication that his producer fee had jumped from $50,000 to $100,000 after his work on the acclaimed Lil Wayne’s track, “Lollipop.”
The effects go far beyond the actual award evening. Singer Taylor Swift saw a 380% increase in her touring acts, following her first Grammy win in 2010, her nightly gross earnings also jumped to $1.1 million.
Celebrities and attendees of the grammy's also leave the ceremony with gift bags, worth a substantial amount.
According to TorontoSun.com, “Gifts include Tiffany cat collars, Gibson guitars, trips to deserted islands, cashmere sweaters, teeth whitening products, jewelry, sunglasses and designer leather bags.”
It has been reported that the 2010 grammy's goodie bags valued at $50,000 each.
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- BUSINESS REPORT ONLINE